Ameritas Advisory Services LLC Buys Shares of 609 Biogen Inc. $BIIB

Ameritas Advisory Services LLC purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 609 shares of the biotechnology company’s stock, valued at approximately $76,000.

Several other large investors have also recently modified their holdings of BIIB. AQR Capital Management LLC raised its stake in shares of 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 acquiring an additional 829,150 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Biogen by 1,663.4% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company’s stock valued at $106,813,000 after acquiring an additional 736,301 shares during the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Biogen during the first quarter valued at $54,421,000. Vanguard Group Inc. raised its stake in shares of Biogen by 1.7% during the first 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, Causeway Capital Management LLC raised its stake in shares of Biogen by 53.9% during the first quarter. Causeway Capital Management LLC now owns 433,517 shares of the biotechnology company’s stock valued at $59,322,000 after acquiring an additional 151,815 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BIIB shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research note on Wednesday, September 24th. Rothschild & Co Redburn lifted their target price on shares of Biogen from $149.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Royal Bank Of Canada lowered their target price on shares of Biogen from $219.00 to $217.00 and set an “outperform” rating for the company in a research note on Wednesday. Piper Sandler lifted their target price on shares of Biogen from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, September 12th. Finally, Truist Financial began coverage on shares of Biogen in a research note on Monday, July 21st. They set a “hold” rating and a $142.00 target price for the company. Eleven analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $180.15.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 517 shares of Biogen 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 completion of the transaction, the insider directly owned 5,772 shares in the company, valued at $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

Biogen Trading Down 2.0%

BIIB opened at $146.57 on Friday. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $194.13. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. The company has a market cap of $21.49 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.16 and a beta of 0.13. The company has a fifty day moving average price of $140.21 and a two-hundred day moving average price of $131.15.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the firm posted $5.28 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.