AlphaQuest LLC Increases Stock Position in Biogen Inc. $BIIB

AlphaQuest LLC raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 34.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,164 shares of the biotechnology company’s stock after acquiring an additional 2,837 shares during the quarter. AlphaQuest LLC’s holdings in Biogen were worth $1,402,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BIIB. GAMMA Investing LLC lifted its holdings in Biogen by 367.8% during the first quarter. GAMMA Investing LLC now owns 1,862 shares of the biotechnology company’s stock valued at $255,000 after purchasing an additional 1,464 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Biogen by 15.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,049 shares of the biotechnology company’s stock valued at $2,607,000 after buying an additional 2,606 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Biogen by 11.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,828 shares of the biotechnology company’s stock valued at $524,000 after buying an additional 389 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of Biogen by 5.5% in the first quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company’s stock valued at $8,405,000 after buying an additional 3,194 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its position in shares of Biogen by 0.4% in the first quarter. Chevy Chase Trust Holdings LLC now owns 77,115 shares of the biotechnology company’s stock valued at $10,552,000 after buying an additional 295 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BIIB shares. Piper Sandler increased their target price on shares of Biogen from $115.00 to $118.00 and gave the company a “neutral” rating in a research report on Friday, September 12th. Needham & Company LLC restated a “hold” rating on shares of Biogen in a research report on Wednesday, September 24th. Truist Financial assumed coverage on shares of Biogen in a research report on Monday, July 21st. They set a “hold” rating and a $142.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of Biogen in a research report on Thursday, September 25th. They set a “buy” rating and a $190.00 price objective for the company. Finally, Rothschild & Co Redburn raised their price objective on shares of Biogen from $149.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Eleven analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $180.69.

Insider Buying and Selling at Biogen

In related news, insider Priya Singhal sold 517 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value of $69,045.35. Following the sale, the insider directly owned 5,772 shares in the company, valued at $770,850.60. The trade was a 8.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

Biogen Stock Down 0.1%

Shares of NASDAQ:BIIB opened at $149.89 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. The firm has a 50 day simple moving average of $143.03 and a 200-day simple moving average of $132.27. The company has a market capitalization of $21.98 billion, a PE ratio of 14.33, a P/E/G ratio of 1.19 and a beta of 0.13. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $187.58.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.93 by $1.54. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. Biogen’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, equities analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.