Teza Capital Management LLC Makes New Investment in Biogen Inc. $BIIB

by · The Markets Daily

Teza Capital Management LLC acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,551 shares of the biotechnology company’s stock, valued at approximately $349,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Biogen by 6.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company’s stock valued at $57,057,000 after purchasing an additional 25,464 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in Biogen by 5.5% during the first quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company’s stock worth $8,405,000 after buying an additional 3,194 shares during the last quarter. Point72 Europe London LLP acquired a new stake in shares of Biogen during the first quarter worth approximately $11,286,000. Motley Fool Asset Management LLC raised its stake in shares of Biogen by 64.7% in the first quarter. Motley Fool Asset Management LLC now owns 6,809 shares of the biotechnology company’s stock valued at $932,000 after acquiring an additional 2,676 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Biogen by 3.1% in the first quarter. Assenagon Asset Management S.A. now owns 44,796 shares of the biotechnology company’s stock valued at $6,130,000 after acquiring an additional 1,336 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BIIB shares. Wall Street Zen raised Biogen from a “buy” rating to a “strong-buy” rating in a report on Friday. Wedbush restated a “neutral” rating and issued a $121.00 target price on shares of Biogen in a research note on Thursday, June 12th. Royal Bank Of Canada lifted their price target on Biogen from $208.00 to $219.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a report on Thursday, September 4th. Finally, Piper Sandler raised their price objective on shares of Biogen from $115.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, August 14th. Ten research analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $181.65.

Get Our Latest Stock Analysis on BIIB

Biogen Stock Up 0.5%

Shares of NASDAQ BIIB opened at $141.35 on Tuesday. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $204.18. The firm’s 50-day moving average is $132.97 and its 200-day moving average is $130.59. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $20.72 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.11 and a beta of 0.11.

Biogen (NASDAQ:BIIB – Get Free Report) last announced 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 net margin of 15.31% and a return on equity of 13.85%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the prior year, the business posted $5.28 earnings per share. Biogen’s revenue was up 7.3% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

Insider Buying and Selling at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the sale, the insider directly owned 6,330 shares of the company’s stock, valued at $854,550. The trade was a 25.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Priya Singhal sold 517 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value of $69,045.35. Following the completion of the sale, the insider owned 5,772 shares of the company’s stock, valued at $770,850.60. This represents a 8.22% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

About Biogen

(Free Report)

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.

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