Fideuram Intesa Sanpaolo Private Banking S.P.A. Sells 2,900 Shares of Biogen Inc. $BIIB

Fideuram Intesa Sanpaolo Private Banking S.P.A. cut its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 15.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,973 shares of the biotechnology company’s stock after selling 2,900 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Biogen were worth $2,928,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Keybank National Association OH boosted its position in Biogen by 4.9% during the 1st quarter. Keybank National Association OH now owns 8,834 shares of the biotechnology company’s stock valued at $1,620,000 after buying an additional 416 shares during the period. Root Financial Partners LLC raised its holdings in Biogen by 84.3% in the 1st quarter. Root Financial Partners LLC now owns 341 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 156 shares during the period. USS Investment Management Ltd lifted its position in Biogen by 8.8% during the first quarter. USS Investment Management Ltd now owns 37,217 shares of the biotechnology company’s stock valued at $6,822,000 after purchasing an additional 3,001 shares in the last quarter. Adams Diversified Equity Fund Inc. lifted its position in Biogen by 126.4% during the first quarter. Adams Diversified Equity Fund Inc. now owns 100,300 shares of the biotechnology company’s stock valued at $18,388,000 after purchasing an additional 56,000 shares in the last quarter. Finally, Econ Financial Services Corp grew its holdings in Biogen by 11.4% during the first quarter. Econ Financial Services Corp now owns 4,397 shares of the biotechnology company’s stock valued at $806,000 after purchasing an additional 451 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Price Performance

NASDAQ:BIIB opened at $216.12 on Friday. The business’s 50-day moving average is $196.61 and its 200 day moving average is $187.03. Biogen Inc. has a 12 month low of $121.05 and a 12 month high of $219.72. The company has a market capitalization of $31.91 billion, a P/E ratio of 23.19 and a beta of 0.16. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, equities research analysts forecast that Biogen Inc. will post 13.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BIIB shares. Piper Sandler reiterated an “overweight” rating and set a $225.00 price objective (up from $214.00) on shares of Biogen in a research note on Friday, May 15th. Zacks Research lowered shares of Biogen from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Argus raised shares of Biogen to a “hold” rating in a research note on Thursday, April 9th. Sanford C. Bernstein dropped their target price on shares of Biogen from $201.00 to $200.00 in a report on Thursday, April 30th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Biogen in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $217.41.

About Biogen

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.