J. L. Bainbridge & Co. Inc. Lowers Holdings in Biogen Inc. $BIIB

J. L. Bainbridge & Co. Inc. trimmed its stake in Biogen Inc. (NASDAQ:BIIB) by 97.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,969 shares of the biotechnology company’s stock after selling 119,376 shares during the quarter. J. L. Bainbridge & Co. Inc.’s holdings in Biogen were worth $416,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its position in Biogen by 3.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 5,532 shares of the biotechnology company’s stock valued at $757,000 after purchasing an additional 177 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its stake in shares of Biogen by 23.2% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 12,482 shares of the biotechnology company’s stock worth $1,708,000 after buying an additional 2,354 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Biogen during the first quarter valued at approximately $329,000. Trexquant Investment LP grew its holdings in shares of Biogen by 90.6% during the first quarter. Trexquant Investment LP now owns 44,488 shares of the biotechnology company’s stock valued at $6,088,000 after buying an additional 21,151 shares during the last quarter. Finally, Magnetar Financial LLC increased its position in shares of Biogen by 311.2% during the first quarter. Magnetar Financial LLC now owns 7,719 shares of the biotechnology company’s stock valued at $1,056,000 after acquiring an additional 5,842 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wells Fargo & Company upped their price objective on Biogen from $155.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. William Blair restated an “outperform” rating on shares of Biogen in a research note on Wednesday, September 24th. Stifel Nicolaus raised Biogen from a “hold” rating to a “buy” rating and increased their price objective for the company from $144.00 to $202.00 in a research report on Thursday, November 6th. Rothschild & Co Redburn boosted their target price on Biogen from $149.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Biogen in a research note on Monday, December 22nd. Ten equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $183.08.

Biogen Trading Up 0.4%

Shares of BIIB stock opened at $177.08 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 firm has a fifty day moving average price of $166.86 and a 200-day moving average price of $146.79. The company has a market cap of $25.98 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.49 and a beta of 0.13. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $185.17.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, topping the consensus estimate of $3.89 by $0.92. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter last year, the company earned $4.08 earnings per share. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, equities analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

About Biogen

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.