Biogen Inc. $BIIB Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 14.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,660,290 shares of the biotechnology company’s stock after selling 439,496 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.82% of Biogen worth $364,035,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of BIIB. OVERSEA CHINESE BANKING Corp Ltd lifted its position in Biogen by 1,663.4% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company’s stock valued at $106,813,000 after buying an additional 736,301 shares during the last quarter. AQR Capital Management LLC lifted its position in Biogen by 982.0% in the fourth quarter. AQR Capital Management LLC now owns 539,692 shares of the biotechnology company’s stock valued at $81,914,000 after buying an additional 489,811 shares during the last quarter. Deutsche Bank AG lifted its position in Biogen by 63.7% in the fourth quarter. Deutsche Bank AG now owns 1,169,570 shares of the biotechnology company’s stock valued at $178,851,000 after buying an additional 455,285 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in Biogen in the first quarter valued at about $54,421,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Biogen by 33.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,533,813 shares of the biotechnology company’s stock worth $234,551,000 after purchasing an additional 381,122 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BIIB. JPMorgan Chase & Co. cut their price target on shares of Biogen from $185.00 to $175.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Citigroup boosted their price target on shares of Biogen from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Morgan Stanley cut their price target on shares of Biogen from $146.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Friday, August 1st. The Goldman Sachs Group cut their price target on shares of Biogen from $219.00 to $197.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, Robert W. Baird cut their price target on shares of Biogen from $300.00 to $255.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Eleven investment analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $185.74.

Insider Buying and Selling at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The shares were 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 in the company, valued at approximately $854,550. This represents a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Biogen Stock Up 0.1%

BIIB stock opened at $138.99 on Thursday. The company’s 50 day moving average price is $130.35 and its 200 day moving average price is $130.90. 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 fifty-two week low of $110.04 and a fifty-two week high of $207.59. The firm has a market capitalization of $20.38 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.09 and a beta of 0.13.

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

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.