Greenleaf Trust Raises Holdings in Biogen Inc. $BIIB

Greenleaf Trust grew its position in Biogen Inc. (NASDAQ:BIIB) by 91.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,669 shares of the biotechnology company’s stock after buying an additional 2,714 shares during the quarter. Greenleaf Trust’s holdings in Biogen were worth $712,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC lifted its stake in shares of Biogen by 153.6% during the 1st quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock worth $187,258,000 after purchasing an additional 829,150 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Biogen by 1,663.4% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company’s stock worth $106,813,000 after purchasing an additional 736,301 shares during the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of Biogen during the 1st quarter worth $54,421,000. Vanguard Group Inc. lifted its stake in shares of Biogen by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company’s stock worth $2,330,774,000 after purchasing an additional 283,964 shares during the last quarter. Finally, Causeway Capital Management LLC lifted its stake in shares of Biogen by 53.9% during the 1st quarter. Causeway Capital Management LLC now owns 433,517 shares of the biotechnology company’s stock worth $59,322,000 after purchasing an additional 151,815 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Piper Sandler upped their price objective on Biogen from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, September 12th. Truist Financial assumed coverage on Biogen in a research note on Monday, July 21st. They set a “hold” rating and a $142.00 price objective for the company. William Blair restated an “outperform” rating on shares of Biogen in a research note on Wednesday, September 24th. Wall Street Zen upgraded Biogen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 28th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research note on Wednesday, September 24th. Eleven investment analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $181.24.

Insider Transactions at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of the firm’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the sale, the insider directly owned 6,330 shares of the company’s stock, valued at $854,550. This trade represents a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Priya Singhal sold 517 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total value of $69,045.35. Following the sale, 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 disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Biogen Stock Up 0.7%

Shares of BIIB stock opened at $155.25 on Friday. The stock’s 50-day simple moving average is $137.45 and its 200-day simple moving average is $130.78. 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 firm has a market capitalization of $22.76 billion, a PE ratio of 14.84, a P/E/G ratio of 1.22 and a beta of 0.13. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $194.13.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.93 by $1.54. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Biogen 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.