CVA Family Office LLC Raises Stock Holdings in Biogen Inc. $BIIB

CVA Family Office LLC grew its position in Biogen Inc. (NASDAQ:BIIB) by 70.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 393 shares of the biotechnology company’s stock after acquiring an additional 162 shares during the quarter. CVA Family Office LLC’s holdings in Biogen were worth $49,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC boosted its stake in Biogen by 153.6% during the 1st quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock worth $187,258,000 after purchasing an additional 829,150 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Biogen by 1,663.4% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company’s stock worth $106,813,000 after buying an additional 736,301 shares during the period. AustralianSuper Pty Ltd purchased a new position in shares of Biogen during the first quarter worth about $54,421,000. Vanguard Group Inc. grew its holdings in shares of Biogen by 1.7% during the first quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company’s stock worth $2,330,774,000 after buying an additional 283,964 shares during the last quarter. Finally, Causeway Capital Management LLC increased its position in Biogen by 53.9% in the 1st quarter. Causeway Capital Management LLC now owns 433,517 shares of the biotechnology company’s stock valued at $59,322,000 after acquiring an additional 151,815 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on BIIB shares. HC Wainwright increased their price objective on Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Truist Financial began coverage on Biogen in a report on Monday, July 21st. They set a “hold” rating and a $142.00 price target for the company. Rothschild & Co Redburn boosted their price objective on shares of Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Weiss Ratings upgraded shares of Biogen from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Finally, Wall Street Zen raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 28th. Eleven analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $180.69.

Insider Transactions at Biogen

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

Biogen Price Performance

Biogen stock opened at $149.89 on Monday. The company has a market cap of $21.98 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 1.19 and a beta of 0.13. Biogen Inc. has a one year low of $110.04 and a one year high of $187.58. The business has a fifty day moving average of $143.03 and a two-hundred day moving average of $132.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the firm posted $5.28 EPS. The business’s 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. As a group, analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

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.