Biogen Inc. $BIIB Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC raised its holdings in Biogen Inc. (NASDAQ:BIIB) by 39.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,697 shares of the biotechnology company’s stock after acquiring an additional 3,312 shares during the period. HighTower Advisors LLC’s holdings in Biogen were worth $1,601,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BIIB. Opal Wealth Advisors LLC acquired a new stake in Biogen in the 1st quarter valued at about $26,000. Vision Financial Markets LLC acquired a new stake in Biogen in the 1st quarter valued at about $27,000. Greykasell Wealth Strategies Inc. acquired a new stake in Biogen in the 1st quarter valued at about $27,000. Colonial Trust Co SC raised its holdings in Biogen by 9,300.0% in the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 186 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in Biogen in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Piper Sandler increased their price objective on shares of Biogen from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, August 14th. Oppenheimer set a $205.00 price target on shares of Biogen in a research note on Friday, May 2nd. Robert W. Baird dropped their price target on shares of Biogen from $300.00 to $255.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Morgan Stanley dropped their price target on shares of Biogen from $146.00 to $144.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. Finally, Mizuho dropped their price target on shares of Biogen from $207.00 to $169.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the stock. According to MarketBeat.com, Biogen currently has an average rating of “Hold” and an average price target of $185.74.

Biogen Stock Performance

NASDAQ:BIIB opened at $139.31 on Monday. 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 $20.42 billion, a P/E ratio of 13.32, a PEG ratio of 1.10 and a beta of 0.13. The company has a 50 day moving average price of $130.66 and a 200 day moving average price of $130.67. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $206.70.

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

Insider Buying and Selling at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the transaction, the insider owned 6,330 shares of the company’s stock, valued at approximately $854,550. This trade represents a 25.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

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.