Aberdeen Group plc Has $19.69 Million Holdings in Biogen Inc. $BIIB

Aberdeen Group plc raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 6.8% in the second quarter, HoldingsChannel.com reports. The firm owned 156,755 shares of the biotechnology company’s stock after purchasing an additional 9,942 shares during the quarter. Aberdeen Group plc’s holdings in Biogen were worth $19,687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BIIB. GAMMA Investing LLC grew its position in shares of Biogen by 367.8% during the 1st quarter. GAMMA Investing LLC now owns 1,862 shares of the biotechnology company’s stock worth $255,000 after buying an additional 1,464 shares during the period. CX Institutional acquired a new stake in shares of Biogen during the 1st quarter worth approximately $180,000. Fifth Third Bancorp grew its position in shares of Biogen by 69.1% during the 1st quarter. Fifth Third Bancorp now owns 5,489 shares of the biotechnology company’s stock worth $751,000 after buying an additional 2,243 shares during the period. CVA Family Office LLC grew its position in shares of Biogen by 71.1% during the 1st quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company’s stock worth $32,000 after buying an additional 96 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Biogen by 15.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,049 shares of the biotechnology company’s stock worth $2,607,000 after buying an additional 2,606 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

Shares of BIIB opened at $144.69 on Tuesday. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $194.13. The business’s fifty day moving average is $140.46 and its 200 day moving average is $131.13. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The stock has a market cap of $21.21 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.16 and a beta of 0.13.

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

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 517 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was 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 approximately $770,850.60. This trade represents a 8.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on BIIB shares. Citigroup reaffirmed a “neutral” rating on shares of Biogen in a research report on Wednesday, September 24th. Piper Sandler raised their price objective on shares of Biogen from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, September 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Biogen in a report on Wednesday, October 8th. Royal Bank Of Canada cut their target price on Biogen from $219.00 to $217.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Finally, Jefferies Financial Group assumed coverage on Biogen in a report on Thursday, September 25th. They issued a “buy” rating and a $190.00 target price on the stock. Eleven investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Hold” and a consensus target price of $180.15.

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.