Biogen Inc. $BIIB Shares Acquired by Parallel Advisors LLC

Parallel Advisors LLC boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 170.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,354 shares of the biotechnology company’s stock after purchasing an additional 2,744 shares during the quarter. Parallel Advisors LLC’s holdings in Biogen were worth $547,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in Biogen by 6.5% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company’s stock valued at $57,057,000 after buying an additional 25,464 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in Biogen by 5.5% in the first quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company’s stock valued at $8,405,000 after buying an additional 3,194 shares during the last quarter. Point72 Europe London LLP bought a new stake in Biogen in the first quarter valued at $11,286,000. Motley Fool Asset Management LLC raised its stake in shares of Biogen by 64.7% during the first quarter. Motley Fool Asset Management LLC now owns 6,809 shares of the biotechnology company’s stock valued at $932,000 after purchasing an additional 2,676 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Biogen by 3.1% during the first quarter. Assenagon Asset Management S.A. now owns 44,796 shares of the biotechnology company’s stock valued at $6,130,000 after purchasing an additional 1,336 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 517 shares of the business’s stock in a transaction that occurred on 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 directly owned 5,772 shares in the company, valued at approximately $770,850.60. The trade was a 8.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Rachid Izzar sold 2,223 shares of the business’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total value of $300,105.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Biogen Stock Down 0.9%

Shares of Biogen stock opened at $142.50 on Friday. The firm has a market cap of $20.89 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 1.13 and a beta of 0.11. 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 52-week low of $110.04 and a 52-week high of $200.37. The stock has a 50-day simple moving average of $135.01 and a 200-day simple moving average of $130.92.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the company earned $5.28 EPS. The firm’s revenue was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, equities research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of Biogen from $208.00 to $219.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Wedbush reiterated a “neutral” rating and issued a $121.00 price target on shares of Biogen in a research report on Thursday, June 12th. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research report on Thursday, September 4th. Wall Street Zen cut Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, HC Wainwright lifted their price target on Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Ten equities research analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $181.65.

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.