Sequoia Financial Advisors LLC Grows Holdings in Biogen Inc. $BIIB

Sequoia Financial Advisors LLC grew its stake in Biogen Inc. (NASDAQ:BIIB) by 50.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,527 shares of the biotechnology company’s stock after acquiring an additional 1,510 shares during the period. Sequoia Financial Advisors LLC’s holdings in Biogen were worth $568,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in BIIB. AQR Capital Management LLC grew its holdings in shares of Biogen by 153.6% in the first quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock valued at $187,258,000 after purchasing an additional 829,150 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Biogen by 1,663.4% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company’s stock valued at $106,813,000 after purchasing an additional 736,301 shares in the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Biogen in the first quarter valued at approximately $54,421,000. Vanguard Group Inc. grew its holdings in shares of Biogen by 1.7% in the first quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company’s stock valued at $2,330,774,000 after purchasing an additional 283,964 shares in the last quarter. Finally, Causeway Capital Management LLC grew its holdings in shares of Biogen by 53.9% in the first quarter. Causeway Capital Management LLC now owns 433,517 shares of the biotechnology company’s stock valued at $59,322,000 after purchasing an additional 151,815 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Truist Financial assumed coverage on shares of Biogen in a report on Monday, July 21st. They issued a “hold” rating and a $142.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of Biogen in a report on Thursday, September 25th. They set a “buy” rating and a $190.00 price target for the company. Citigroup reiterated a “neutral” rating on shares of Biogen in a report on Wednesday, September 24th. Morgan Stanley boosted their price target on shares of Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a report on Wednesday, September 24th. Eleven investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $180.69.

Biogen Stock Up 0.5%

Shares of NASDAQ:BIIB opened at $143.00 on Monday. The company has a market capitalization of $20.97 billion, a PE ratio of 13.67, a P/E/G 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 Inc. has a twelve month low of $110.04 and a twelve month high of $191.19. The firm has a 50 day simple moving average of $141.53 and a 200-day simple moving average of $131.44.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, topping the consensus estimate of $3.93 by $1.54. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 517 shares of the business’s 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

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.