AMF Tjanstepension AB Sells 25,636 Shares of Biogen Inc. $BIIB

AMF Tjanstepension AB lessened its position in Biogen Inc. (NASDAQ:BIIB) by 43.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,479 shares of the biotechnology company’s stock after selling 25,636 shares during the period. AMF Tjanstepension AB’s holdings in Biogen were worth $4,690,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Elevation Point Wealth Partners LLC bought a new position in Biogen in the 2nd quarter worth about $25,000. Rothschild Investment LLC raised its stake in Biogen by 64.7% during the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 88 shares during the period. Concord Wealth Partners lifted its position in shares of Biogen by 100.0% in the second quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 114 shares in the last quarter. True Wealth Design LLC boosted its position in shares of Biogen by 62.9% during the third quarter. True Wealth Design LLC now owns 233 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Finally, NewSquare Capital LLC increased its stake in Biogen by 134.6% in the 2nd quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 140 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Stock Down 1.3%

Biogen stock opened at $171.59 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.72 and a quick ratio of 2.04. The stock has a market capitalization of $25.17 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.43 and a beta of 0.13. The business has a 50 day simple moving average of $175.80 and a 200-day simple moving average of $153.30. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $190.20.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $2.34 billion. Biogen had a net margin of 15.98% and a return on equity of 14.13%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.08 EPS. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BIIB has been the subject of several recent analyst reports. Tudor Pickering set a $157.00 target price on Biogen in a research report on Monday, November 3rd. HSBC reissued a “reduce” rating and issued a $143.00 price objective (down previously from $144.00) on shares of Biogen in a research note on Wednesday, December 10th. Piper Sandler restated a “neutral” rating and issued a $157.00 price target (up from $118.00) on shares of Biogen in a report on Friday, November 21st. Truist Financial boosted their target price on Biogen from $142.00 to $190.00 and gave the stock a “hold” rating in a research note on Thursday, January 8th. Finally, Hsbc Global Res lowered shares of Biogen from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 10th. Ten research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Biogen presently has an average rating of “Hold” and a consensus target price of $191.85.

Biogen Company Profile

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.