Landscape Capital Management L.L.C. Purchases Shares of 2,403 Biogen Inc. $BIIB

Landscape Capital Management L.L.C. purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,403 shares of the biotechnology company’s stock, valued at approximately $329,000.

A number of other large investors have also added to or reduced their stakes in the company. Colonial Trust Co SC increased its holdings in shares of Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock worth $29,000 after buying an additional 186 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Biogen in the first quarter worth about $26,000. Greykasell Wealth Strategies Inc. purchased a new position in shares of Biogen in the first quarter worth about $27,000. Vision Financial Markets LLC purchased a new position in shares of Biogen in the first quarter worth about $27,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Biogen in the first quarter worth about $29,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

Biogen stock opened at $132.22 on Monday. The stock’s 50 day simple moving average is $131.40 and its two-hundred day simple moving average is $130.53. 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 stock has a market cap of $19.39 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.04 and a beta of 0.11. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $206.70.

Biogen (NASDAQ:BIIB) last posted 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 business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The business’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Rachid Izzar sold 2,223 shares of the business’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total value of $300,105.00. Following the sale, the insider directly owned 6,330 shares of the company’s stock, valued at $854,550. The trade was a 25.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BIIB shares. HC Wainwright lifted their price objective on Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Truist Financial started coverage on Biogen in a report on Monday, July 21st. They issued a “hold” rating and a $142.00 price objective on the stock. Citigroup lifted their price objective on Biogen from $125.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Mizuho cut their target price on Biogen from $207.00 to $169.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada raised their target price on Biogen from $208.00 to $219.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Biogen has a consensus rating of “Hold” and an average target price of $185.74.

Biogen 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.