US Bancorp DE Sells 8,837 Shares of Biogen Inc. $BIIB

US Bancorp DE cut its holdings in Biogen Inc. (NASDAQ:BIIB) by 34.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,109 shares of the biotechnology company’s stock after selling 8,837 shares during the period. US Bancorp DE’s holdings in Biogen were worth $2,149,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Optas LLC bought a new stake in Biogen in the second quarter worth $200,000. Massachusetts Wealth Management boosted its holdings in Biogen by 4.2% in the second quarter. Massachusetts Wealth Management now owns 2,874 shares of the biotechnology company’s stock worth $361,000 after purchasing an additional 115 shares in the last quarter. Dohj LLC boosted its holdings in Biogen by 3.0% in the second quarter. Dohj LLC now owns 8,853 shares of the biotechnology company’s stock worth $1,046,000 after purchasing an additional 261 shares in the last quarter. Sax Wealth Advisors LLC boosted its holdings in Biogen by 48.8% in the second quarter. Sax Wealth Advisors LLC now owns 3,288 shares of the biotechnology company’s stock worth $413,000 after purchasing an additional 1,078 shares in the last quarter. Finally, KLP Kapitalforvaltning AS boosted its holdings in Biogen by 6.7% in the second quarter. KLP Kapitalforvaltning AS now owns 166,577 shares of the biotechnology company’s stock worth $20,920,000 after purchasing an additional 10,500 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 517 shares of the stock in a transaction dated 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 transaction, the insider owned 5,772 shares of the company’s stock, valued at $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Biogen in a report on Thursday, September 25th. They set a “buy” rating and a $190.00 price target for the company. Weiss Ratings restated a “sell (d+)” rating on shares of Biogen in a report on Wednesday, October 8th. HC Wainwright upped their price target on shares of Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a report on Friday, August 1st. Wedbush upped their price target on shares of Biogen from $129.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Rothschild & Co Redburn upped their price target on shares of Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Eleven investment analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $180.69.

Biogen Stock Down 1.1%

NASDAQ BIIB opened at $143.66 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. The firm has a 50-day simple moving average of $141.00 and a 200 day simple moving average of $131.32. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $192.16. The stock has a market cap of $21.06 billion, a PE ratio of 13.73, a PEG ratio of 1.15 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last released its 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 business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter last year, the company earned $5.28 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, research analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

About Biogen

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.