Arkadios Wealth Advisors Sells 351 Shares of Biogen Inc. $BIIB

Arkadios Wealth Advisors decreased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 10.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,003 shares of the biotechnology company’s stock after selling 351 shares during the period. Arkadios Wealth Advisors’ holdings in Biogen were worth $377,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BIIB. Vanguard Group Inc. grew 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 purchasing an additional 283,964 shares during the last quarter. Invesco Ltd. lifted its holdings in Biogen by 6.4% during the 1st quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company’s stock worth $309,944,000 after buying an additional 136,200 shares in the last quarter. AQR Capital Management LLC boosted its position in Biogen by 153.6% in the 1st quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock valued at $187,258,000 after buying an additional 829,150 shares during the last quarter. Amundi increased its stake in shares of Biogen by 8.1% in the 1st quarter. Amundi now owns 1,315,947 shares of the biotechnology company’s stock valued at $172,007,000 after buying an additional 98,957 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Biogen by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,019,219 shares of the biotechnology company’s stock valued at $139,470,000 after buying an additional 47,956 shares during the period. 87.93% of the stock is owned by institutional investors.

Biogen Price Performance

NASDAQ BIIB opened at $153.43 on Thursday. The business has a 50 day simple moving average of $145.11 and a 200 day simple moving average of $134.36. 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 $179.20. The stock has a market cap of $22.51 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.17 and a beta of 0.10.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.92. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business posted $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Biogen

In related news, insider Priya Singhal sold 517 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was 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 approximately $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on BIIB. Tudor Pickering set a $157.00 price target on Biogen in a report on Monday. HC Wainwright raised their target price on shares of Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Sanford C. Bernstein increased their price objective on shares of Biogen from $155.00 to $157.00 and gave the company a “market perform” rating in a report on Monday. Robert W. Baird reduced their price objective on shares of Biogen from $255.00 to $250.00 in a research note on Friday, October 31st. Finally, Wedbush upped their target price on shares of Biogen from $135.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Nine investment analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $176.42.

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.