Biogen Inc. $BIIB Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 13.7% during the second quarter, Holdings Channel reports. The fund owned 45,980 shares of the biotechnology company’s stock after selling 7,300 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Biogen were worth $5,775,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Generali Investments CEE investicni spolecnost a.s. boosted its stake in shares of Biogen by 43.2% during the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock valued at $4,867,000 after acquiring an additional 11,695 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position 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 buying an additional 25,464 shares during the period. Nordea Investment Management AB lifted its position in Biogen by 5.7% during the second quarter. Nordea Investment Management AB now owns 125,935 shares of the biotechnology company’s stock worth $15,810,000 after buying an additional 6,811 shares during the period. Privium Fund Management B.V. purchased a new position in Biogen during the second quarter worth about $2,666,000. Finally, Point72 Europe London LLP purchased a new position in Biogen during the first quarter worth about $11,286,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

Biogen stock opened at $149.89 on Monday. The stock’s 50-day moving average is $143.03 and its 200-day moving average is $132.48. The company has a market cap of $21.98 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.19 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 12 month low of $110.04 and a 12 month high of $187.58.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping analysts’ consensus estimates of $3.93 by $1.54. The company had revenue of $2.65 billion for 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 company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Activity

In other news, insider Priya Singhal sold 517 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total value of $69,045.35. Following the completion of the sale, the insider owned 5,772 shares in the company, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BIIB shares. Rothschild & Co Redburn increased their target price on Biogen from $149.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Jefferies Financial Group started coverage on Biogen in a research report on Thursday, September 25th. They set a “buy” rating and a $190.00 target price on the stock. Truist Financial started coverage on Biogen in a research report on Monday, July 21st. They set a “hold” rating and a $142.00 target price on the stock. Citigroup reiterated a “neutral” rating on shares of Biogen in a research report on Wednesday, September 24th. Finally, HC Wainwright increased their target price on Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $180.69.

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.