Skandinaviska Enskilda Banken AB publ Acquires 20,500 Shares of Biogen Inc. $BIIB

Skandinaviska Enskilda Banken AB publ boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 43.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 67,231 shares of the biotechnology company’s stock after purchasing an additional 20,500 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Biogen were worth $8,446,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Wedmont Private Capital grew its stake in shares of Biogen by 3.8% in the 2nd quarter. Wedmont Private Capital now owns 2,190 shares of the biotechnology company’s stock worth $291,000 after buying an additional 81 shares during the last quarter. Rothschild Investment LLC boosted its holdings in Biogen by 64.7% in the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 88 shares in the last quarter. Legacy Wealth Asset Management LLC grew its stake in shares of Biogen by 3.8% in the second quarter. Legacy Wealth Asset Management LLC now owns 2,511 shares of the biotechnology company’s stock worth $315,000 after acquiring an additional 91 shares during the last quarter. TIAA Trust National Association increased its holdings in shares of Biogen by 2.3% during the second quarter. TIAA Trust National Association now owns 4,443 shares of the biotechnology company’s stock valued at $558,000 after acquiring an additional 100 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Biogen by 21.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 617 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 107 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BIIB has been the topic of several recent analyst reports. Wedbush increased their price objective on shares of Biogen from $135.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. William Blair reiterated an “outperform” rating on shares of Biogen in a report on Wednesday, September 24th. Morgan Stanley raised their price target on shares of Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. Jefferies Financial Group upped their price objective on Biogen from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday. Finally, Citigroup reissued a “neutral” rating on shares of Biogen in a report on Wednesday, September 24th. Ten analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $179.73.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 517 shares of the 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 approximately $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Biogen Trading Down 0.2%

Shares of BIIB stock opened at $181.57 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $185.17. The stock has a market capitalization of $26.64 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.17 and a beta of 0.10. The firm’s 50 day moving average is $154.56 and its 200 day moving average is $140.19.

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

Biogen Company 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.