MassMutual Private Wealth & Trust FSB Raises Stake in Biogen Inc. $BIIB

MassMutual Private Wealth & Trust FSB increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 21.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 617 shares of the biotechnology company’s stock after acquiring an additional 107 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Biogen were worth $77,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. AQR Capital Management LLC grew 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 worth $187,258,000 after buying an additional 829,150 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in Biogen by 1,663.4% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company’s stock worth $106,813,000 after purchasing an additional 736,301 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in Biogen in the 1st quarter worth about $54,421,000. Vanguard Group Inc. increased its holdings in shares of Biogen by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company’s stock valued at $2,330,774,000 after acquiring an additional 283,964 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Biogen by 63,919.1% during the 1st quarter. GAMMA Investing LLC now owns 254,796 shares of the biotechnology company’s stock valued at $34,866,000 after acquiring an additional 254,398 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Down 0.9%

NASDAQ BIIB opened at $142.50 on Friday. The stock has a fifty day moving average of $135.01 and a 200-day moving average of $130.83. The stock has a market capitalization of $20.89 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 1.12 and a beta of 0.11. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $200.37. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, beating the consensus estimate of $3.93 by $1.54. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, 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 Biogen stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the sale, the insider directly owned 6,330 shares of the company’s stock, valued at $854,550. The trade was a 25.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Priya Singhal sold 517 shares of Biogen stock in a transaction 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 sale, the insider directly owned 5,772 shares of the company’s stock, valued at approximately $770,850.60. This trade represents a 8.22% 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 company insiders.

Analyst Ratings Changes

BIIB has been the topic of a number of analyst reports. Wall Street Zen lowered Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday. Royal Bank Of Canada increased their target price on Biogen from $208.00 to $219.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Biogen in a research note on Thursday, September 4th. Morgan Stanley decreased their target price on 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, HC Wainwright increased their target price on Biogen from $187.00 to $194.00 and gave the company 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Hold” and an average target price of $181.65.

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.