Allianz Asset Management GmbH Increases Stake in Biogen Inc. (NASDAQ:BIIB)

Allianz Asset Management GmbH grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 24.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 667,767 shares of the biotechnology company's stock after buying an additional 131,813 shares during the period. Allianz Asset Management GmbH owned approximately 0.46% of Biogen worth $91,377,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lee Danner & Bass Inc. acquired a new position in shares of Biogen during the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in Biogen in the 1st quarter valued at $26,000. Colonial Trust Co SC raised its position in Biogen by 9,300.0% in the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after buying an additional 186 shares during the last quarter. Private Trust Co. NA raised its position in Biogen by 74.8% in the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after buying an additional 98 shares during the last quarter. Finally, CVA Family Office LLC raised its position in Biogen by 71.1% in the 1st quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock valued at $32,000 after buying an additional 96 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Price Performance

Shares of NASDAQ BIIB traded up $5.17 during trading hours on Tuesday, reaching $127.85. 1,319,053 shares of the stock traded hands, compared to its average volume of 1,453,892. The company has a market capitalization of $18.73 billion, a P/E ratio of 7.75, a price-to-earnings-growth ratio of 0.98 and a beta of 0.14. The company has a quick ratio of 1.01, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $236.48. The company's 50-day simple moving average is $129.18 and its two-hundred day simple moving average is $133.05.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.25 billion. Biogen had a net margin of 15.07% and a return on equity of 14.03%. The business's quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.67 earnings per share. Equities research analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wedbush restated a "neutral" rating and issued a $121.00 price objective on shares of Biogen in a research note on Thursday, June 12th. HSBC downgraded Biogen from a "buy" rating to a "hold" rating and set a $118.00 price target for the company. in a research note on Monday, April 28th. Mizuho cut their price target on Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Hsbc Global Res downgraded Biogen from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Piper Sandler reiterated a "neutral" rating and set a $115.00 price target on shares of Biogen in a research note on Thursday, June 12th. Twenty-one equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Biogen presently has a consensus rating of "Hold" and a consensus target price of $186.37.

Insider Buying and Selling

In other Biogen news, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total value of $300,105.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

Biogen 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.