Biogen Inc. $BIIB Shares Bought by Keybank National Association OH

Keybank National Association OH boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 7.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,093 shares of the biotechnology company’s stock after purchasing an additional 582 shares during the quarter. Keybank National Association OH’s holdings in Biogen were worth $1,016,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. acquired a new position in Biogen during the first quarter worth about $27,000. Vision Financial Markets LLC acquired a new position in Biogen during the first quarter worth about $27,000. Zions Bancorporation National Association UT acquired a new position in Biogen during the first quarter worth about $29,000. Concord Wealth Partners grew its position in Biogen by 100.0% during the second quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock worth $29,000 after buying an additional 114 shares during the period. Finally, Private Trust Co. NA grew its position in Biogen by 74.8% during the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company’s stock worth $31,000 after buying an additional 98 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of BIIB opened at $151.44 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 company has a market capitalization of $22.20 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.17 and a beta of 0.13. The company’s 50 day simple moving average is $144.51 and its 200 day simple moving average is $134.01. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $179.20.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.92. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.34 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, sell-side analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley upped their target price on shares of Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. Sanford C. Bernstein upped their target price on shares of Biogen from $155.00 to $157.00 and gave the stock a “market perform” rating in a research report on Monday. Robert W. Baird reduced their price target on shares of Biogen from $255.00 to $250.00 in a report on Friday. Weiss Ratings raised shares of Biogen from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 24th. Finally, Royal Bank Of Canada reduced their price target on shares of Biogen from $217.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday. Nine analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $176.12.

Insider Activity

In related news, insider Priya Singhal sold 517 shares of the company’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 transaction, the insider owned 5,772 shares of the company’s stock, valued at approximately $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Biogen Company 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.