Farther Finance Advisors LLC Sells 172 Shares of Biogen Inc. $BIIB

Farther Finance Advisors LLC lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 15.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 955 shares of the biotechnology company’s stock after selling 172 shares during the period. Farther Finance Advisors LLC’s holdings in Biogen were worth $120,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. raised its position in Biogen by 6.5% during 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 purchasing an additional 25,464 shares in the last quarter. Asset Management One Co. Ltd. raised its position in Biogen by 5.5% during 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 purchasing an additional 3,194 shares in the last quarter. Point72 Europe London LLP purchased a new stake in Biogen during the first quarter valued at about $11,286,000. Motley Fool Asset Management LLC raised its position in 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 position in 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. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $159.88 on Friday. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $194.13. The firm has a market cap of $23.44 billion, a P/E ratio of 15.28, a PEG ratio of 1.23 and a beta of 0.13. The company has a 50 day moving average of $138.02 and a 200 day moving average of $130.89. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36.

Biogen (NASDAQ:BIIB) last announced 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 company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, research analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Buying and Selling at Biogen

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the stock in a transaction dated 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 $854,550. This represents a 25.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Priya Singhal sold 517 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were 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 $770,850.60. This 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.

Analysts Set New Price Targets

BIIB has been the topic of a number of recent research reports. Royal Bank Of Canada raised their price objective on Biogen from $208.00 to $219.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Truist Financial initiated coverage on Biogen in a research note on Monday, July 21st. They set a “hold” rating and a $142.00 price objective on the stock. Citigroup reaffirmed a “neutral” rating on shares of Biogen in a research note on Wednesday, September 24th. Wall Street Zen raised Biogen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 28th. Finally, William Blair reaffirmed an “outperform” rating on shares of Biogen in a research note on Wednesday, September 24th. Eleven investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $181.24.

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.