Biogen Inc. $BIIB Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,203 shares of the biotechnology company’s stock after buying an additional 137 shares during the quarter. Park Avenue Securities LLC’s holdings in Biogen were worth $402,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BIIB. AQR Capital Management LLC lifted its position in Biogen by 153.6% during the first quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock valued at $187,258,000 after purchasing an additional 829,150 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Biogen by 1,663.4% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company’s stock worth $106,813,000 after acquiring an additional 736,301 shares during the period. AustralianSuper Pty Ltd acquired a new position in shares of Biogen in the first quarter worth about $54,421,000. Vanguard Group Inc. raised its position 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 worth $2,330,774,000 after acquiring an additional 283,964 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Biogen by 63,919.1% in the first quarter. GAMMA Investing LLC now owns 254,796 shares of the biotechnology company’s stock worth $34,866,000 after acquiring an additional 254,398 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. HC Wainwright upped their price target on shares of Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Morgan Stanley reduced 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 report on Friday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Biogen in a research report on Wednesday, September 24th. Finally, Royal Bank Of Canada upped 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. Eleven research analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $182.04.

Insider Activity at Biogen

In other Biogen 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 sale, the insider directly owned 6,330 shares in the company, valued at $854,550. This represents a 25.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the insider owned 5,772 shares in the company, 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. Corporate insiders own 0.18% of the company’s stock.

Biogen Stock Performance

Biogen stock opened at $138.52 on Tuesday. The firm has a 50 day simple moving average of $136.29 and a 200-day simple moving average of $130.47. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $195.00. 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 stock has a market cap of $20.31 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 1.08 and a beta of 0.11.

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