IFP Advisors Inc Raises Stock Position in Biogen Inc. $BIIB

IFP Advisors Inc boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 25.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,085 shares of the biotechnology company’s stock after acquiring an additional 220 shares during the period. IFP Advisors Inc’s holdings in Biogen were worth $136,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wedmont Private Capital raised its position in shares of Biogen by 3.8% during the 2nd quarter. Wedmont Private Capital now owns 2,190 shares of the biotechnology company’s stock worth $291,000 after purchasing an additional 81 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Biogen by 74.8% during the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 98 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Biogen by 21.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 617 shares of the biotechnology company’s stock valued at $77,000 after acquiring an additional 107 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Biogen by 0.9% in the first quarter. Oregon Public Employees Retirement Fund now owns 12,598 shares of the biotechnology company’s stock worth $1,724,000 after acquiring an additional 110 shares during the last quarter. Finally, Capital Investment Advisors LLC boosted its stake in shares of Biogen by 5.4% in the second quarter. Capital Investment Advisors LLC now owns 2,164 shares of the biotechnology company’s stock worth $272,000 after acquiring an additional 111 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 517 shares of the company’s stock in a transaction 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 transaction, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BIIB has been the topic of a number of research reports. Wedbush raised their price objective on Biogen from $129.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Jefferies Financial Group began coverage on shares of Biogen in a research report on Thursday, September 25th. They issued a “buy” rating and a $190.00 target price for the company. HC Wainwright boosted 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. Truist Financial assumed coverage on shares of Biogen in a report on Monday, July 21st. They issued a “hold” rating and a $142.00 price objective for the company. Finally, Royal Bank Of Canada lowered their target price on Biogen from $219.00 to $217.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $180.69.

Biogen Stock Up 0.5%

Shares of BIIB opened at $143.00 on Friday. The company’s 50-day moving average price is $141.53 and its 200 day moving average price is $131.43. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $191.19. 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 firm has a market cap of $20.97 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 1.13 and a beta of 0.13.

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