Deutsche Bank AG Buys 455,285 Shares of Biogen Inc. (NASDAQ:BIIB)

Deutsche Bank AG grew its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 63.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,169,570 shares of the biotechnology company's stock after acquiring an additional 455,285 shares during the period. Deutsche Bank AG owned about 0.80% of Biogen worth $178,851,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BIIB. Assenagon Asset Management S.A. lifted its position in shares of Biogen by 0.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company's stock worth $6,646,000 after purchasing an additional 111 shares during the period. Amundi boosted its position in Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company's stock valued at $183,461,000 after acquiring an additional 319,478 shares in the last quarter. Integrated Quantitative Investments LLC purchased a new position in shares of Biogen in the 4th quarter valued at $407,000. Daiwa Securities Group Inc. raised its position in shares of Biogen by 17.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 37,221 shares of the biotechnology company's stock worth $5,692,000 after acquiring an additional 5,627 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its stake in shares of Biogen by 111.0% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 15,148 shares of the biotechnology company's stock worth $2,316,000 after purchasing an additional 7,970 shares during the last quarter. Institutional investors own 87.93% of the company's stock.

Insiders Place Their Bets

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Robert W. Baird reduced their target price on shares of Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. The Goldman Sachs Group decreased their target price on shares of Biogen from $219.00 to $197.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Oppenheimer set a $205.00 price target on shares of Biogen in a report on Friday, May 2nd. Royal Bank of Canada dropped their target price on Biogen from $217.00 to $205.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, William Blair reiterated an "outperform" rating on shares of Biogen in a research note on Monday, January 13th. Twenty investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $191.30.

Biogen Price Performance

Biogen stock opened at $118.20 on Friday. The stock has a market capitalization of $17.32 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.51 and a beta of 0.12. The company's fifty day moving average price is $128.33 and its 200 day moving average price is $144.65. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing the consensus estimate of $3.26 by ($0.24). The firm had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Biogen's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.67 earnings per share. As a group, equities research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

About Biogen

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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