Biogen Inc. $BIIB Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its holdings in Biogen Inc. (NASDAQ:BIIB) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 40,475 shares of the biotechnology company’s stock after selling 784 shares during the period. Gateway Investment Advisers LLC’s holdings in Biogen were worth $5,083,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Biogen in the 1st quarter valued at $26,000. Greykasell Wealth Strategies Inc. acquired a new position in Biogen in the 1st quarter valued at $27,000. Vision Financial Markets LLC acquired a new stake in shares of Biogen during the 1st quarter worth $27,000. Zions Bancorporation National Association UT acquired a new stake in shares of Biogen during the 1st quarter worth $29,000. Finally, Private Trust Co. NA increased its holdings in shares of Biogen by 74.8% during the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company’s stock worth $31,000 after buying an additional 98 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of BIIB stock opened at $144.87 on Thursday. 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 Inc. has a one year low of $110.04 and a one year high of $204.18. The company’s 50-day simple moving average is $134.68 and its 200-day simple moving average is $130.91. The stock has a market capitalization of $21.24 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 1.13 and a beta of 0.11.

Biogen (NASDAQ:BIIB) last issued 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 net margin of 15.31% and a return on equity of 13.85%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter last year, the company posted $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 anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Priya Singhal sold 517 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the transaction, the insider owned 5,772 shares of the company’s stock, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Rachid Izzar sold 2,223 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the transaction, the insider directly owned 6,330 shares in the company, valued at $854,550. The trade was a 25.99% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BIIB. Citigroup upped their price objective on Biogen from $125.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. HC Wainwright upped their price objective on Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Biogen in a report on Thursday, September 4th. Piper Sandler upped their price objective on Biogen from $115.00 to $118.00 and gave the stock a “neutral” rating in a report on Friday, September 12th. Finally, Wedbush restated a “neutral” rating and set a $121.00 price objective on shares of Biogen in a report on Thursday, June 12th. Ten investment analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the stock. According to MarketBeat.com, Biogen currently has an average rating of “Hold” and a consensus target price of $181.65.

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.