Universal Beteiligungs und Servicegesellschaft mbH Trims Stake in Biogen Inc. $BIIB

Universal Beteiligungs und Servicegesellschaft mbH lessened its position in Biogen Inc. (NASDAQ:BIIB) by 5.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,128 shares of the biotechnology company’s stock after selling 8,333 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.10% of Biogen worth $18,729,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its position in shares of Biogen by 12.8% during the first quarter. Envestnet Asset Management Inc. now owns 52,294 shares of the biotechnology company’s stock valued at $7,156,000 after buying an additional 5,926 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Biogen by 4.8% in the first quarter. Victory Capital Management Inc. now owns 124,756 shares of the biotechnology company’s stock worth $17,072,000 after buying an additional 5,723 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Biogen by 2.8% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 11,213 shares of the biotechnology company’s stock worth $1,534,000 after acquiring an additional 301 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Biogen during the 1st quarter worth approximately $5,927,000. Finally, Allianz Asset Management GmbH boosted its holdings in Biogen by 24.6% during the 1st quarter. Allianz Asset Management GmbH now owns 667,767 shares of the biotechnology company’s stock valued at $91,377,000 after acquiring an additional 131,813 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 517 shares of the company’s 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 completion of the sale, the insider owned 5,772 shares in the company, valued at $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BIIB shares. Royal Bank Of Canada reduced their target price on Biogen from $217.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Jefferies Financial Group began coverage on shares of Biogen in a report on Thursday, September 25th. They issued a “buy” rating and a $190.00 price target on the stock. Tudor Pickering set a $157.00 price objective on shares of Biogen in a report on Monday, November 3rd. Rothschild & Co Redburn boosted their price objective on shares of Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Finally, Morgan Stanley raised their target price on shares of Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. Ten equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $177.46.

Biogen Stock Up 2.5%

Shares of Biogen stock opened at $168.83 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. The stock has a market cap of $24.77 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.17 and a beta of 0.10. The firm’s 50-day moving average is $149.34 and its two-hundred day moving average is $137.12. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $170.78.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating the consensus estimate of $3.89 by $0.92. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the previous year, the business posted $4.08 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, research analysts expect 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.