Kaufman Rossin Wealth LLC Purchases Shares of 1,690 Biogen Inc. $BIIB

Kaufman Rossin Wealth LLC acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,690 shares of the biotechnology company’s stock, valued at approximately $231,000.

Several other hedge funds also recently modified their holdings of BIIB. Sumitomo Mitsui Trust Group Inc. raised its holdings in Biogen by 6.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company’s stock worth $57,057,000 after acquiring an additional 25,464 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Biogen by 5.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company’s stock worth $8,405,000 after purchasing an additional 3,194 shares during the last quarter. Motley Fool Asset Management LLC raised its stake in shares of Biogen by 64.7% during the 1st quarter. Motley Fool Asset Management LLC now owns 6,809 shares of the biotechnology company’s stock worth $932,000 after purchasing an additional 2,676 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Biogen by 3.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 44,796 shares of the biotechnology company’s stock valued at $6,130,000 after buying an additional 1,336 shares during the last quarter. Finally, Blackhawk Capital Partners LLC. bought a new position in shares of Biogen in the first quarter valued at $382,000. Institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $138.99 on Thursday. The business has a fifty day moving average price of $130.35 and a two-hundred day moving average price of $130.90. The stock has a market capitalization of $20.38 billion, a PE ratio of 13.29, a P/E/G ratio of 1.09 and a beta of 0.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $207.59.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping analysts’ consensus estimates of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter last year, the business earned $5.28 earnings per share. Biogen’s revenue was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, equities analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total value of $300,105.00. Following the transaction, the insider directly owned 6,330 shares of the company’s stock, valued at $854,550. This trade represents a 25.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Royal Bank Of Canada upped their price target on shares of Biogen from $208.00 to $219.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Wall Street Zen upgraded Biogen from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Morgan Stanley cut their price objective on Biogen from $146.00 to $144.00 and set an “equal weight” rating for the company in a research report on Friday, August 1st. Oppenheimer set a $205.00 target price on Biogen in a report on Friday, May 2nd. Finally, HSBC cut Biogen from a “buy” rating to a “hold” rating and set a $118.00 price target on the stock. in a research note on Monday, April 28th. Eleven investment analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $185.74.

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.