Biogen Inc. $BIIB Shares Purchased by IFP Advisors Inc

IFP Advisors Inc increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 25.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,085 shares of the biotechnology company’s stock after buying an additional 220 shares during the period. IFP Advisors Inc’s holdings in Biogen were worth $136,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BIIB. Vision Financial Markets LLC acquired a new stake in shares of Biogen in the first quarter valued at $27,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Biogen during the first quarter worth about $27,000. Zions Bancorporation National Association UT purchased a new stake in shares of Biogen during the first quarter worth approximately $29,000. Private Trust Co. NA raised its holdings in Biogen by 74.8% in the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 98 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Biogen in the first quarter worth approximately $40,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Up 0.5%

Shares of BIIB stock opened at $143.00 on Friday. The business’s 50 day moving average is $141.53 and its two-hundred day moving average is $131.43. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $191.19. The company has a market capitalization of $20.97 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 1.13 and a beta of 0.13. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping the consensus estimate of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the business earned $5.28 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BIIB shares. Royal Bank Of Canada decreased their price objective on shares of Biogen from $219.00 to $217.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Wall Street Zen raised Biogen from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Biogen in a research report on Wednesday, October 8th. William Blair reissued an “outperform” rating on shares of Biogen in a research report on Wednesday, September 24th. Finally, Wedbush upped their price target on Biogen from $129.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $180.69.

Insider Buying and Selling

In other news, insider Priya Singhal sold 517 shares of the 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 of the company’s stock, valued at approximately $770,850.60. This represents a 8.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by insiders.

About Biogen

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.