MQS Management LLC Acquires 2,030 Shares of Biogen Inc. $BIIB

MQS Management LLC boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 113.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,817 shares of the biotechnology company’s stock after buying an additional 2,030 shares during the quarter. MQS Management LLC’s holdings in Biogen were worth $479,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. CVA Family Office LLC grew its position in Biogen by 70.1% during the second quarter. CVA Family Office LLC now owns 393 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 162 shares during the period. Focus Partners Advisor Solutions LLC grew its position in Biogen by 19.1% during the second quarter. Focus Partners Advisor Solutions LLC now owns 6,311 shares of the biotechnology company’s stock valued at $793,000 after buying an additional 1,010 shares during the period. AlphaQuest LLC grew its position in Biogen by 34.1% during the second quarter. AlphaQuest LLC now owns 11,164 shares of the biotechnology company’s stock valued at $1,402,000 after buying an additional 2,837 shares during the period. Sector Gamma AS grew its position in Biogen by 171.7% during the second quarter. Sector Gamma AS now owns 50,639 shares of the biotechnology company’s stock valued at $6,360,000 after buying an additional 32,000 shares during the period. Finally, Asset Management One Co. Ltd. grew its position in Biogen by 2.3% during the second quarter. Asset Management One Co. Ltd. now owns 62,810 shares of the biotechnology company’s stock valued at $7,888,000 after buying an additional 1,390 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Performance

BIIB opened at $149.89 on Friday. The firm has a market cap of $21.98 billion, a P/E ratio of 14.33, a PEG ratio of 1.19 and a beta of 0.13. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $187.58. The company has a 50 day simple moving average of $143.03 and a two-hundred day simple moving average of $132.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, topping 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 firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the business earned $5.28 earnings per share. Biogen’s revenue for the quarter was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Biogen

In related news, insider Priya Singhal sold 517 shares of the company’s stock in a transaction 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 transaction, the insider owned 5,772 shares in the company, valued at approximately $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the subject of several recent research reports. Wedbush boosted their target price on shares of Biogen from $129.00 to $135.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Morgan Stanley boosted their target price on shares of Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. Truist Financial began coverage on shares of Biogen in a research report on Monday, July 21st. They issued a “hold” rating and a $142.00 price target for the company. Weiss Ratings upgraded shares of Biogen from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Finally, Rothschild & Co Redburn upped their price target 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 investment analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $180.69.

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.