Vanguard Group Inc. Grows Position in Biogen Inc. $BIIB

Vanguard Group Inc. raised its position in Biogen Inc. (NASDAQ:BIIB) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,290,651 shares of the biotechnology company’s stock after buying an additional 257,812 shares during the quarter. Vanguard Group Inc. owned approximately 11.79% of Biogen worth $2,171,533,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of BIIB. AQR Capital Management LLC increased its holdings in shares of Biogen by 153.6% in the 1st quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock valued at $187,258,000 after acquiring an additional 829,150 shares during the period. AustralianSuper Pty Ltd grew its position in Biogen by 85.9% during the 2nd quarter. AustralianSuper Pty Ltd now owns 739,416 shares of the biotechnology company’s stock worth $92,863,000 after purchasing an additional 341,719 shares during the last quarter. State of Michigan Retirement System increased its stake in Biogen by 633.7% in the second quarter. State of Michigan Retirement System now owns 291,303 shares of the biotechnology company’s stock valued at $36,585,000 after purchasing an additional 251,600 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Biogen by 1,036.1% in the second quarter. Acadian Asset Management LLC now owns 199,462 shares of the biotechnology company’s stock valued at $25,044,000 after buying an additional 181,905 shares during the last quarter. Finally, Causeway Capital Management LLC boosted its stake in shares of Biogen by 53.9% during the first quarter. Causeway Capital Management LLC now owns 433,517 shares of the biotechnology company’s stock worth $59,322,000 after buying an additional 151,815 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup restated a “neutral” rating on shares of Biogen in a research report on Wednesday, September 24th. Royal Bank Of Canada dropped their target price on Biogen from $217.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Tudor Pickering set a $157.00 price target on Biogen in a research note on Monday, November 3rd. Rothschild & Co Redburn lifted 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, BMO Capital Markets upped their price objective on shares of Biogen from $128.00 to $150.00 in a research report on Friday, October 31st. Ten investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $178.96.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 517 shares of Biogen 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 in the company, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Biogen Price Performance

Biogen stock opened at $175.30 on Friday. The company has a market cap of $25.72 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 1.17 and a beta of 0.10. Biogen Inc. has a one year low of $110.04 and a one year high of $176.02. The business has a fifty day moving average of $150.84 and a two-hundred day moving average of $137.93. 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 (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $4.08 EPS. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, analysts predict 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.