Biogen Inc. $BIIB Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 11.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 230,804 shares of the biotechnology company’s stock after selling 30,358 shares during the period. Canada Pension Plan Investment Board’s holdings in Biogen were worth $31,583,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BIIB. Opal Wealth Advisors LLC acquired a new stake in Biogen during the first quarter valued at approximately $26,000. Vision Financial Markets LLC acquired a new stake in Biogen during the first quarter valued at approximately $27,000. Greykasell Wealth Strategies Inc. acquired a new stake in Biogen during the first quarter valued at approximately $27,000. Colonial Trust Co SC raised its holdings in shares of Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 186 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Biogen during the first quarter valued at approximately $29,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the company’s 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 owned 6,330 shares in the company, valued at approximately $854,550. This represents a 25.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BIIB shares. Wall Street Zen upgraded shares of Biogen from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Piper Sandler boosted their price target on shares of Biogen from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, August 14th. HC Wainwright boosted their price target on shares of Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a report on Friday, August 1st. Mizuho cut their price target on shares of Biogen from $207.00 to $169.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Biogen in a report on Thursday, June 12th. Eleven analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the stock. According to data from MarketBeat, Biogen currently has a consensus rating of “Hold” and a consensus price target of $185.74.

Biogen Stock Down 0.3%

Biogen stock opened at $132.22 on Monday. The firm has a market cap of $19.39 billion, a PE ratio of 12.64, a P/E/G ratio of 1.04 and a beta of 0.11. 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 50 day moving average price is $131.40 and its two-hundred day moving average price is $130.53. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $206.70.

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