Generali Asset Management SPA SGR Boosts Position in Biogen Inc. $BIIB

Generali Asset Management SPA SGR raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 6.4% in the second quarter, Holdings Channel reports. The institutional investor owned 41,682 shares of the biotechnology company’s stock after buying an additional 2,518 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Biogen were worth $5,235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Biogen by 367.8% in 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 last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Biogen by 15.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,049 shares of the biotechnology company’s stock valued at $2,607,000 after buying an additional 2,606 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Biogen by 5.2% during the first quarter. Exchange Traded Concepts LLC now owns 2,405 shares of the biotechnology company’s stock valued at $329,000 after buying an additional 119 shares during the period. Janney Montgomery Scott LLC grew its stake in Biogen by 45.6% in the first quarter. Janney Montgomery Scott LLC now owns 17,941 shares of the biotechnology company’s stock worth $2,455,000 after purchasing an additional 5,620 shares during the period. Finally, QRG Capital Management Inc. grew its stake in Biogen by 55.1% in the first quarter. QRG Capital Management Inc. now owns 4,039 shares of the biotechnology company’s stock worth $553,000 after purchasing an additional 1,435 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of recent research reports. Piper Sandler increased their target price on Biogen from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, September 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a report on Wednesday, September 24th. Morgan Stanley upped their price target on Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a report on Friday, October 10th. Wedbush upped their price target on Biogen from $129.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Truist Financial assumed coverage on Biogen in a report on Monday, July 21st. They set a “hold” rating and a $142.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $180.69.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 517 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total value of $69,045.35. Following the transaction, the insider owned 5,772 shares of the company’s stock, valued at $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by company insiders.

Biogen Stock Down 1.1%

NASDAQ BIIB opened at $143.66 on Thursday. The stock’s 50-day moving average price is $141.00 and its 200-day moving average price is $131.32. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $192.16. The company has a market capitalization of $21.06 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 1.15 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping 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 firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the company earned $5.28 earnings per share. The business’s revenue for the quarter 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 predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Biogen Profile

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.