Vise Technologies Inc. Buys New Shares in Biogen Inc. $BIIB

Vise Technologies Inc. bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,170 shares of the biotechnology company’s stock, valued at approximately $398,000.

Other hedge funds have also recently bought and sold shares of the company. Vision Financial Markets LLC bought a new stake in shares of Biogen during the 1st quarter worth approximately $27,000. Greykasell Wealth Strategies Inc. bought a new stake in Biogen during the first quarter worth $27,000. Zions Bancorporation National Association UT acquired a new stake in Biogen in the first quarter valued at $29,000. Concord Wealth Partners grew its position in shares of Biogen by 100.0% in the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 114 shares during the period. Finally, NewSquare Capital LLC raised its holdings in shares of Biogen by 134.6% in the 2nd quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 140 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Tudor Pickering set a $157.00 price target on Biogen in a report on Monday, November 3rd. Rothschild & Co Redburn lifted their target price on Biogen from $149.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Truist Financial started coverage on Biogen in a research note on Monday, July 21st. They issued a “hold” rating and a $142.00 price target on the stock. Guggenheim lifted their price objective on shares of Biogen from $165.00 to $185.00 in a research report on Friday, October 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a report on Wednesday, September 24th. Ten analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $177.46.

Insider Activity

In related news, insider Priya Singhal sold 517 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Biogen Stock Up 1.7%

BIIB opened at $167.55 on Friday. The stock has a fifty day moving average of $148.37 and a 200-day moving average of $136.39. The company has a market capitalization of $24.58 billion, a P/E ratio of 16.02, a P/E/G ratio of 1.17 and a beta of 0.10. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $169.00. 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 released its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.92. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. Biogen’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, equities analysts expect that Biogen Inc. will post 15.83 EPS for the current 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.