Profund Advisors LLC Purchases 404 Shares of Biogen Inc. $BIIB

Profund Advisors LLC lifted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 1.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 27,174 shares of the biotechnology company’s stock after acquiring an additional 404 shares during the period. Profund Advisors LLC’s holdings in Biogen were worth $3,413,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BIIB. Vanguard Group Inc. grew its stake in shares of Biogen by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company’s stock worth $2,330,774,000 after buying an additional 283,964 shares during the last quarter. Invesco Ltd. increased its stake in Biogen by 6.4% during the 1st quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company’s stock valued at $309,944,000 after purchasing an additional 136,200 shares in the last quarter. AQR Capital Management LLC lifted its stake 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 worth $187,258,000 after buying an additional 829,150 shares in the last quarter. Amundi grew its holdings in shares of Biogen by 8.1% during the first quarter. Amundi now owns 1,315,947 shares of the biotechnology company’s stock valued at $172,007,000 after buying an additional 98,957 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Biogen by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,019,219 shares of the biotechnology company’s stock valued at $139,470,000 after acquiring an additional 47,956 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 517 shares of the 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 directly owned 5,772 shares of the company’s stock, valued at $770,850.60. This trade represents a 8.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

BIIB has been the subject of a number of research analyst reports. Wall Street Zen lowered Biogen from a “buy” rating to a “hold” rating in a report on Sunday. Piper Sandler upped their target price on shares of Biogen from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Friday, September 12th. Wedbush raised their target price on shares of Biogen from $135.00 to $143.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Tudor Pickering set a $157.00 target price on Biogen in a report on Monday, November 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research report on Wednesday, September 24th. Ten research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $177.46.

Biogen Stock Down 0.8%

BIIB opened at $155.51 on Monday. The stock has a market cap of $22.81 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 1.17 and a beta of 0.10. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. The firm’s fifty day moving average is $146.06 and its 200 day moving average is $135.01. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $175.86.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period last year, the firm earned $4.08 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, sell-side analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Biogen Company Profile

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.