Mutual Advisors LLC Buys New Position in Biogen Inc. $BIIB

Mutual Advisors LLC bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,780 shares of the biotechnology company’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Wedmont Private Capital boosted its position in Biogen by 3.8% in the second quarter. Wedmont Private Capital now owns 2,190 shares of the biotechnology company’s stock worth $291,000 after purchasing an additional 81 shares during the last quarter. Private Trust Co. NA boosted its position in Biogen by 74.8% in the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 98 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Biogen by 21.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 617 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 107 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in Biogen by 0.9% in the first quarter. Oregon Public Employees Retirement Fund now owns 12,598 shares of the biotechnology company’s stock worth $1,724,000 after purchasing an additional 110 shares during the last quarter. Finally, Capital Investment Advisors LLC boosted its position in Biogen by 5.4% in the second quarter. Capital Investment Advisors LLC now owns 2,164 shares of the biotechnology company’s stock worth $272,000 after purchasing an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Activity

In other news, insider Priya Singhal sold 517 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total value of $69,045.35. Following the completion of the transaction, the insider directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $146.22 on Wednesday. The firm has a market capitalization of $21.44 billion, a P/E ratio of 13.98, a P/E/G ratio of 1.16 and a beta of 0.13. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The stock’s 50-day simple moving average is $142.25 and its two-hundred day simple moving average is $131.70. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $187.58.

Biogen (NASDAQ:BIIB) last announced 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. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on BIIB shares. William Blair restated an “outperform” rating on shares of Biogen in a research note on Wednesday, September 24th. Weiss Ratings restated a “sell (d+)” rating on shares of Biogen in a research note on Wednesday, October 8th. Piper Sandler boosted their target price on Biogen from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Friday, September 12th. Rothschild & Co Redburn boosted their target price on Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Finally, Jefferies Financial Group started coverage on Biogen in a research note on Thursday, September 25th. They issued a “buy” rating and a $190.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.