Allworth Financial LP Has $274,000 Holdings in Biogen Inc. $BIIB

Allworth Financial LP lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 114.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,179 shares of the biotechnology company’s stock after acquiring an additional 1,162 shares during the period. Allworth Financial LP’s holdings in Biogen were worth $274,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vision Financial Markets LLC bought a new position in Biogen during the 1st quarter worth about $27,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Biogen during the first quarter worth about $27,000. Zions Bancorporation National Association UT bought a new position in shares of Biogen during the first quarter worth about $29,000. Concord Wealth Partners raised its position in Biogen by 100.0% in the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 114 shares during the last quarter. Finally, NewSquare Capital LLC lifted its stake in Biogen by 134.6% in the 2nd quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 140 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Price Performance

Shares of BIIB opened at $164.68 on Tuesday. The company’s 50-day moving average is $148.83 and its 200-day moving average is $136.81. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. The firm has a market capitalization of $24.16 billion, a PE ratio of 15.74, a PEG ratio of 1.17 and a beta of 0.10. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $169.00.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating 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%. Biogen’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.08 EPS. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Equities analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BIIB shares. Piper Sandler raised their price target 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. Mizuho raised their target price on shares of Biogen from $169.00 to $177.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Robert W. Baird lowered their price target on shares of Biogen from $255.00 to $250.00 in a research note on Friday, October 31st. Citigroup reaffirmed a “neutral” rating on shares of Biogen in a research report on Wednesday, September 24th. Finally, Morgan Stanley increased their price objective on Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a report on Friday, October 10th. Ten equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $177.46.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 517 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

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.