Biogen Inc. $BIIB Shares Purchased by UMB Bank n.a.

UMB Bank n.a. grew its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 118.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,029 shares of the biotechnology company’s stock after acquiring an additional 557 shares during the quarter. UMB Bank n.a.’s holdings in Biogen were worth $129,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. IFM Investors Pty Ltd increased its position in Biogen by 6.0% during the second quarter. IFM Investors Pty Ltd now owns 35,752 shares of the biotechnology company’s stock worth $4,490,000 after purchasing an additional 2,023 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Biogen by 46.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 27,867 shares of the biotechnology company’s stock valued at $3,703,000 after buying an additional 8,818 shares during the period. Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Biogen during the 2nd quarter worth $3,341,000. Wedmont Private Capital raised its position in shares of Biogen by 3.8% in the 2nd quarter. Wedmont Private Capital now owns 2,190 shares of the biotechnology company’s stock worth $291,000 after buying an additional 81 shares during the period. Finally, Sivia Capital Partners LLC purchased a new position in shares of Biogen in the 2nd quarter worth $216,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BIIB has been the subject of several research analyst reports. Morgan Stanley dropped their price target 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. Wedbush reissued a “neutral” rating and set a $121.00 target price on shares of Biogen in a research report on Thursday, June 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research report on Wednesday. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Wednesday. Finally, Piper Sandler raised their target price 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. Ten investment analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $181.65.

Insider Buying and Selling

In related news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value of $69,045.35. Following the completion of the sale, the insider owned 5,772 shares in the company, valued at approximately $770,850.60. The trade was a 8.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rachid Izzar sold 2,223 shares of the company’s stock in a transaction 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 sale, the insider directly owned 6,330 shares in the company, valued at $854,550. This 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 company insiders.

Biogen Stock Performance

Shares of BIIB stock opened at $137.67 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. The company’s fifty day moving average price is $135.59 and its two-hundred day moving average price is $130.75. The firm has a market capitalization of $20.19 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.10 and a beta of 0.11. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $197.70.

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

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.