Biogen Inc. $BIIB Shares Sold by Huntington National Bank

Huntington National Bank cut its stake in Biogen Inc. (NASDAQ:BIIB) by 15.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,050 shares of the biotechnology company’s stock after selling 383 shares during the period. Huntington National Bank’s holdings in Biogen were worth $257,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. AQR Capital Management LLC increased its stake in Biogen by 153.6% in the 1st quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock valued at $187,258,000 after purchasing an additional 829,150 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings 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 purchasing an additional 736,301 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in shares of Biogen in the first quarter valued at $54,421,000. Vanguard Group Inc. raised 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 buying an additional 283,964 shares during the last quarter. Finally, State of Michigan Retirement System raised its stake in shares of Biogen by 633.7% during the 2nd quarter. State of Michigan Retirement System now owns 291,303 shares of the biotechnology company’s stock worth $36,585,000 after buying an additional 251,600 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 517 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the transaction, the insider directly owned 5,772 shares in the company, valued at $770,850.60. This represents a 8.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

Biogen Trading Down 0.8%

Shares of BIIB opened at $155.51 on Friday. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $175.86. The company has a market capitalization of $22.81 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.17 and a beta of 0.10. The stock has a fifty day moving average of $146.06 and a two-hundred day moving average of $134.78. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BIIB shares. HC Wainwright raised their target price on shares of Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a report on Friday, August 1st. Truist Financial assumed coverage on shares of Biogen in a research note on Monday, July 21st. They set a “hold” rating and a $142.00 price objective for the company. Sanford C. Bernstein lifted their price objective on Biogen from $155.00 to $157.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Jefferies Financial Group assumed coverage on Biogen in a report on Thursday, September 25th. They set a “buy” rating and a $190.00 target price on the stock. Finally, Royal Bank Of Canada dropped their price target on Biogen from $217.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Ten research analysts have rated the stock with a Buy rating and eighteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $177.46.

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.