Biogen Inc. $BIIB Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale decreased its position in Biogen Inc. (NASDAQ:BIIB) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,721 shares of the biotechnology company’s stock after selling 477 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.07% of Biogen worth $13,681,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BIIB. GAMMA Investing LLC raised its holdings in Biogen by 367.8% during the first quarter. GAMMA Investing LLC now owns 1,862 shares of the biotechnology company’s stock worth $255,000 after purchasing an additional 1,464 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Biogen by 15.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,049 shares of the biotechnology company’s stock worth $2,607,000 after purchasing an additional 2,606 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Biogen by 45.6% during the first quarter. Janney Montgomery Scott LLC now owns 17,941 shares of the biotechnology company’s stock worth $2,455,000 after purchasing an additional 5,620 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Biogen by 11.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,828 shares of the biotechnology company’s stock worth $524,000 after purchasing an additional 389 shares in the last quarter. Finally, Flagship Harbor Advisors LLC raised its holdings in Biogen by 57.1% during the first quarter. Flagship Harbor Advisors LLC now owns 2,440 shares of the biotechnology company’s stock worth $334,000 after purchasing an additional 887 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $150.08 on Friday. The firm has a market capitalization of $22.00 billion, a P/E ratio of 14.35, a PEG ratio of 1.17 and a beta of 0.13. Biogen Inc. has a one year low of $110.04 and a one year high of $187.58. The company’s fifty day moving average is $142.80 and its two-hundred day moving average is $132.03. 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, 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 the consensus estimate 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 quarter in the previous year, the company posted $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 517 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 5,772 shares of the company’s stock, valued at $770,850.60. This represents a 8.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on BIIB shares. Morgan Stanley raised their price objective on shares of Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. HC Wainwright raised their price objective on shares of Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Truist Financial assumed coverage on shares of Biogen in a report on Monday, July 21st. They set a “hold” rating and a $142.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Biogen in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada cut their target price on shares of Biogen from $219.00 to $217.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Eleven investment 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $180.69.

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.