Assetmark Inc. Has $211,000 Holdings in Biogen Inc. $BIIB

Assetmark Inc. boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 1,669.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,681 shares of the biotechnology company’s stock after purchasing an additional 1,586 shares during the quarter. Assetmark Inc.’s holdings in Biogen were worth $211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in 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 period. Invesco Ltd. grew its holdings in shares of Biogen by 6.4% in the 1st quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company’s stock worth $309,944,000 after purchasing an additional 136,200 shares during the last quarter. AQR Capital Management LLC increased its holdings 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 worth $187,258,000 after buying an additional 829,150 shares in the last quarter. Amundi raised its position in 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 purchasing an additional 98,957 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Biogen by 4.9% in the first 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 last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 0.8%

Shares of BIIB stock opened at $155.51 on Friday. The stock’s fifty day moving average price is $146.06 and its two-hundred day moving average price is $134.89. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $175.86. 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 company has a market cap of $22.81 billion, a PE ratio of 14.87, a P/E/G ratio of 1.17 and a beta of 0.10.

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

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. Sanford C. Bernstein increased their target price on Biogen from $155.00 to $157.00 and gave the stock a “market perform” rating in a research note on Monday, November 3rd. Robert W. Baird reduced their price objective on Biogen from $255.00 to $250.00 in a research report on Friday, October 31st. Stifel Nicolaus upgraded shares of Biogen from a “hold” rating to a “buy” rating and increased their price objective for the stock from $144.00 to $202.00 in a research note on Thursday. Finally, Jefferies Financial Group assumed coverage on shares of Biogen in a research note on Thursday, September 25th. They issued a “buy” rating and a $190.00 price target for the company. Ten research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $177.46.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 517 shares of the firm’s stock in a transaction 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 of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.