Biogen Inc. $BIIB Shares Bought by Aviva PLC

Aviva PLC lifted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 6.8% in the 2nd quarter, Holdings Channel reports. The fund owned 108,674 shares of the biotechnology company’s stock after buying an additional 6,945 shares during the period. Aviva PLC’s holdings in Biogen were worth $13,648,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BIIB. Vanguard Group Inc. increased its stake in shares of Biogen by 1.7% in the first quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company’s stock valued at $2,330,774,000 after purchasing an additional 283,964 shares during the period. Invesco Ltd. increased its position in Biogen by 6.4% in the 1st quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company’s stock valued at $309,944,000 after acquiring an additional 136,200 shares during the period. AQR Capital Management LLC raised its stake in Biogen by 153.6% during the 1st quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock valued at $187,258,000 after acquiring an additional 829,150 shares in the last quarter. Amundi raised its stake in Biogen by 8.1% during the 1st quarter. Amundi now owns 1,315,947 shares of the biotechnology company’s stock valued at $172,007,000 after acquiring an additional 98,957 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Biogen by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,019,219 shares of the biotechnology company’s stock worth $139,470,000 after acquiring an additional 47,956 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Biogen from a “buy” rating to a “hold” rating in a research note on Sunday. William Blair restated an “outperform” rating on shares of Biogen in a research report on Wednesday, September 24th. Citigroup reiterated a “neutral” rating on shares of Biogen in a report on Wednesday, September 24th. Piper Sandler raised their price objective on shares of Biogen from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Friday, September 12th. Finally, Truist Financial started coverage on Biogen in a research report on Monday, July 21st. They issued a “hold” rating and a $142.00 target price for the company. Ten analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $177.46.

Biogen Stock Performance

Shares of BIIB opened at $159.56 on Wednesday. The firm has a market cap of $23.41 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.17 and a beta of 0.10. The company’s fifty day moving average is $146.93 and its 200-day moving average is $135.56. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $175.86.

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

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 517 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was 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 in the company, valued at $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is owned by 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.