Biogen Inc. $BIIB Shares Sold by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 41.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,760 shares of the biotechnology company’s stock after selling 4,813 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Biogen were worth $849,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Envestnet Asset Management Inc. boosted its stake in Biogen by 12.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 52,294 shares of the biotechnology company’s stock worth $7,156,000 after buying an additional 5,926 shares during the last quarter. Allworth Financial LP increased its position in Biogen by 85.6% during the first quarter. Allworth Financial LP now owns 1,017 shares of the biotechnology company’s stock worth $139,000 after purchasing an additional 469 shares during the last quarter. Alps Advisors Inc. purchased a new position in Biogen during the first quarter worth approximately $342,000. Cerity Partners LLC boosted its holdings in shares of Biogen by 82.7% in the 1st quarter. Cerity Partners LLC now owns 40,368 shares of the biotechnology company’s stock valued at $5,524,000 after purchasing an additional 18,277 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of Biogen by 18.1% during the 1st quarter. New York State Common Retirement Fund now owns 131,146 shares of the biotechnology company’s stock valued at $17,946,000 after buying an additional 20,130 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Up 2.0%

Shares of Biogen stock opened at $164.73 on Friday. The business has a 50-day moving average price of $147.83 and a 200 day moving average price of $135.94. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $175.86. The firm has a market cap of $24.17 billion, a P/E ratio of 15.75, a P/E/G ratio of 1.17 and a beta of 0.10. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.92. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the firm posted $4.08 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, sell-side analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BIIB shares. Royal Bank Of Canada lowered their price target on Biogen from $217.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Robert W. Baird reduced their price objective on Biogen from $255.00 to $250.00 in a research note on Friday, October 31st. Wells Fargo & Company increased their target price on shares of Biogen from $140.00 to $155.00 in a research report on Friday, October 31st. Rothschild & Co Redburn raised their price target on shares of Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Finally, Morgan Stanley boosted their price objective on shares of Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. Ten equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $177.46.

Insider Buying and Selling

In other news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the sale, the insider owned 5,772 shares of the company’s stock, valued at approximately $770,850.60. The trade was a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.