Bessemer Group Inc. Has $444,000 Holdings in Biogen Inc. $BIIB

Bessemer Group Inc. grew its stake in Biogen Inc. (NASDAQ:BIIB) by 16.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,544 shares of the biotechnology company’s stock after acquiring an additional 507 shares during the period. Bessemer Group Inc.’s holdings in Biogen were worth $444,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vision Financial Markets LLC bought a new position in shares of Biogen in the first quarter worth about $27,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Biogen in the first quarter worth about $27,000. Zions Bancorporation National Association UT bought a new position in shares of Biogen in the first quarter worth about $29,000. Concord Wealth Partners raised its stake in shares of Biogen by 100.0% in the second quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 114 shares during the last quarter. Finally, Private Trust Co. NA raised its stake in shares of Biogen by 74.8% in the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 98 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on BIIB. Piper Sandler boosted 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. Robert W. Baird dropped their price target on shares of Biogen from $255.00 to $250.00 in a research note on Friday. Jefferies Financial Group assumed coverage on shares of Biogen in a research note on Thursday, September 25th. They set a “buy” rating and a $190.00 price target for the company. Guggenheim boosted their price target on shares of Biogen from $165.00 to $185.00 in a research note on Friday. Finally, Royal Bank Of Canada dropped their price target on shares of Biogen from $217.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday. Nine analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $177.00.

Biogen Stock Up 3.1%

Shares of NASDAQ BIIB opened at $154.27 on Monday. The stock has a market cap of $22.62 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.17 and a beta of 0.13. The firm has a 50 day moving average price of $144.21 and a 200 day moving average price of $133.77. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $179.48.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.34 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 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 517 shares of the business’s stock in a transaction that occurred on 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 owned 5,772 shares in the company, valued at approximately $770,850.60. The trade was a 8.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

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.