Rhenman & Partners Asset Management AB Lowers Holdings in Biogen Inc. $BIIB

Rhenman & Partners Asset Management AB trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB) by 75.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,000 shares of the biotechnology company’s stock after selling 37,500 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Biogen were worth $1,507,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Generali Investments CEE investicni spolecnost a.s. boosted its stake in Biogen by 43.2% during the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock valued at $4,867,000 after purchasing an additional 11,695 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in shares of Biogen in the second quarter worth $225,000. Privium Fund Management B.V. bought a new position in shares of Biogen during the second quarter valued at $2,666,000. Nordea Investment Management AB boosted its position in shares of Biogen by 5.7% during the second quarter. Nordea Investment Management AB now owns 125,935 shares of the biotechnology company’s stock valued at $15,810,000 after buying an additional 6,811 shares during the last quarter. Finally, Point72 Europe London LLP purchased a new stake in shares of Biogen during the first quarter valued at $11,286,000. Institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In related news, insider Priya Singhal sold 517 shares of the business’s 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 completion of the transaction, the insider directly owned 5,772 shares in the company, valued at approximately $770,850.60. The trade was a 8.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by insiders.

Biogen Trading Up 2.9%

Shares of BIIB stock opened at $181.96 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. The company has a market cap of $26.69 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.17 and a beta of 0.10. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $185.17. The firm has a fifty day moving average price of $152.28 and a 200-day moving average price of $139.08.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.92. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the business earned $4.08 earnings per share. Biogen’s quarterly revenue was up 2.8% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, equities analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on BIIB shares. Robert W. Baird decreased their target price on Biogen from $255.00 to $250.00 in a research report on Friday, October 31st. Jefferies Financial Group started coverage on shares of Biogen in a report on Thursday, September 25th. They set a “buy” rating and a $190.00 price objective for the company. Wedbush raised their target price on shares of Biogen from $135.00 to $143.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Wednesday, September 24th. Finally, Royal Bank Of Canada lowered their price target on Biogen from $217.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Ten equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Biogen currently has an average rating of “Hold” and an average target price of $178.96.

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.