Cidel Asset Management Inc. Boosts Holdings in Biogen Inc. $BIIB

Cidel Asset Management Inc. lifted its stake in Biogen Inc. (NASDAQ:BIIB) by 11.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,862 shares of the biotechnology company’s stock after purchasing an additional 190 shares during the period. Cidel Asset Management Inc.’s holdings in Biogen were worth $234,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Generali Investments CEE investicni spolecnost a.s. lifted its position in shares of Biogen by 43.2% in the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock worth $4,867,000 after purchasing an additional 11,695 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Biogen by 6.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company’s stock valued at $57,057,000 after acquiring an additional 25,464 shares during the period. Asset Management One Co. Ltd. lifted its position in Biogen by 5.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company’s stock valued at $8,405,000 after acquiring an additional 3,194 shares during the period. Point72 Europe London LLP purchased a new position in Biogen during the 1st quarter valued at about $11,286,000. Finally, Motley Fool Asset Management LLC lifted its position in Biogen by 64.7% during the 1st quarter. Motley Fool Asset Management LLC now owns 6,809 shares of the biotechnology company’s stock valued at $932,000 after acquiring an additional 2,676 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Up 2.5%

Shares of Biogen stock opened at $146.63 on Tuesday. 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 capitalization of $21.50 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.13 and a beta of 0.13. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $190.40. The company has a 50-day simple moving average of $141.91 and a two-hundred day simple moving average of $131.60.

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

Analyst Upgrades and Downgrades

BIIB has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Biogen in a research report on Thursday, September 25th. They set a “buy” rating and a $190.00 price target for the company. Wall Street Zen raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 28th. Royal Bank Of Canada lowered their price target on shares of Biogen from $219.00 to $217.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Wedbush lifted their price target on shares of Biogen from $129.00 to $135.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Finally, Piper Sandler lifted their price target on shares of Biogen from $115.00 to $118.00 and gave the company a “neutral” rating in a research report on Friday, September 12th. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $180.69.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 517 shares of the business’s 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. The trade was a 8.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by corporate insiders.

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.