Axa S.A. Acquires 103,677 Shares of Biogen Inc. (NASDAQ:BIIB)

AXA S.A. boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 178.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 161,636 shares of the biotechnology company's stock after buying an additional 103,677 shares during the period. AXA S.A. owned about 0.11% of Biogen worth $24,717,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BIIB. Wahed Invest LLC grew its holdings in shares of Biogen by 6.1% during the fourth quarter. Wahed Invest LLC now owns 3,752 shares of the biotechnology company's stock valued at $574,000 after buying an additional 216 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Biogen by 13.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,475 shares of the biotechnology company's stock valued at $990,000 after acquiring an additional 779 shares in the last quarter. Kapitalo Investimentos Ltda grew its stake in Biogen by 25.5% during the 4th quarter. Kapitalo Investimentos Ltda now owns 1,472 shares of the biotechnology company's stock valued at $225,000 after acquiring an additional 299 shares in the last quarter. PDT Partners LLC increased its holdings in shares of Biogen by 138.9% in the 4th quarter. PDT Partners LLC now owns 39,405 shares of the biotechnology company's stock valued at $6,026,000 after purchasing an additional 22,908 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its stake in Biogen by 1,002.7% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 79,516 shares of the biotechnology company's stock valued at $12,160,000 after buying an additional 72,305 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Price Performance

NASDAQ:BIIB traded up $1.18 during mid-day trading on Thursday, reaching $118.39. 1,871,759 shares of the company were exchanged, compared to its average volume of 1,363,922. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $238.00. The stock has a market cap of $17.35 billion, a PE ratio of 10.58, a PEG ratio of 1.51 and a beta of 0.12. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average of $129.28 and a 200 day moving average of $145.57.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the business earned $3.67 EPS. The business's revenue for the quarter was up 6.2% on a year-over-year basis. On average, research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the transaction, the director now owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BIIB has been the subject of several recent research reports. Oppenheimer set a $205.00 target price on shares of Biogen in a research report on Friday, May 2nd. The Goldman Sachs Group lowered their target price on shares of Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler reduced their price target on Biogen from $135.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Mizuho cut their price objective on Biogen from $207.00 to $169.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Bank Of America (Bofa) decreased their target price on Biogen from $178.00 to $163.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Twenty research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $191.30.

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.