Massachusetts Wealth Management Buys 115 Shares of Biogen Inc. $BIIB

Massachusetts Wealth Management lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,874 shares of the biotechnology company’s stock after acquiring an additional 115 shares during the quarter. Massachusetts Wealth Management’s holdings in Biogen were worth $361,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, insider Priya Singhal sold 517 shares of the stock in a transaction 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 sale, the insider owned 5,772 shares in the company, valued at approximately $770,850.60. This represents a 8.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BIIB shares. Wall Street Zen raised Biogen from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of Biogen in a report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a report on Wednesday, September 24th. Morgan Stanley lowered their price target on Biogen from $146.00 to $144.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. Finally, William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Wednesday, September 24th. Eleven analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $179.96.

Biogen Stock Down 0.8%

Shares of BIIB opened at $150.97 on Thursday. The stock has a market capitalization of $22.14 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 1.20 and a beta of 0.13. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $194.13. The business’s 50 day simple moving average is $139.49 and its 200-day simple moving average is $131.13. 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 released its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, beating 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 company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the firm posted $5.28 EPS. Biogen’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. As a group, equities analysts expect 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.