SG Americas Securities LLC Trims Holdings in Biogen Inc. $BIIB

SG Americas Securities LLC lowered its position in Biogen Inc. (NASDAQ:BIIB) by 56.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,707 shares of the biotechnology company’s stock after selling 12,763 shares during the period. SG Americas Securities LLC’s holdings in Biogen were worth $1,360,000 as of its most recent filing with the Securities & Exchange Commission.

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

Biogen Price Performance

Shares of NASDAQ BIIB opened at $164.42 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.04 and a current ratio of 2.72. The firm has a fifty day moving average of $175.04 and a 200 day moving average of $151.86. The firm has a market cap of $24.12 billion, a PE ratio of 14.99, a PEG ratio of 1.40 and a beta of 0.13. Biogen Inc. has a one year low of $110.04 and a one year high of $190.20.

Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.92. Biogen had a net margin of 15.98% and a return on equity of 14.13%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the business earned $4.08 earnings per share. The company’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, research analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Tudor Pickering set a $157.00 price objective on Biogen in a report on Monday, November 3rd. Truist Financial boosted their price target on Biogen from $142.00 to $190.00 and gave the company a “hold” rating in a report on Thursday, January 8th. HSBC reaffirmed a “reduce” rating and set a $143.00 price objective (down previously from $144.00) on shares of Biogen in a research note on Wednesday, December 10th. Morgan Stanley lifted their target price on shares of Biogen from $149.00 to $156.00 and gave the company an “equal weight” rating in a report on Friday, December 12th. Finally, Wells Fargo & Company increased their price target on shares of Biogen from $155.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 10th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Biogen currently has an average rating of “Hold” and an average price target of $190.50.

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.