Banco Santander S.A. Acquires 7,182 Shares of Biogen Inc. (NASDAQ:BIIB)

Key Points

• Banco Santander S.A. has increased its stake in Biogen Inc. by 15.0%, owning a total of 54,991 shares valued at approximately $7.5 million as reported in their latest SEC filing.
• Several large investors have been actively buying Biogen shares, with institutional ownership now at 87.93%.
• Analysts have mixed opinions on Biogen, with an average target price of $185.63 and a consensus rating of "Hold."

Banco Santander S.A. lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,991 shares of the biotechnology company's stock after purchasing an additional 7,182 shares during the period. Banco Santander S.A.'s holdings in Biogen were worth $7,525,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BIIB. Opal Wealth Advisors LLC bought a new position in Biogen in the first quarter worth approximately $26,000. Colonial Trust Co SC boosted its holdings in Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 186 shares in the last quarter. Private Trust Co. NA boosted its holdings in Biogen by 74.8% in the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock worth $31,000 after acquiring an additional 98 shares in the last quarter. CVA Family Office LLC boosted its holdings in Biogen by 71.1% in the first quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 96 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in Biogen in the first quarter worth approximately $35,000. Institutional investors own 87.93% of the company's stock.

Insider Activity at Biogen

In other news, insider Rachid Izzar sold 2,223 shares of the firm's stock in a transaction 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 completion of the transaction, the insider directly owned 6,330 shares of the company's stock, valued at $854,550. This trade represents a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

Biogen Stock Performance

NASDAQ:BIIB traded up $0.84 during trading hours on Tuesday, reaching $133.04. The stock had a trading volume of 151,160 shares, compared to its average volume of 1,564,507. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. The stock has a 50 day simple moving average of $129.97 and a 200 day simple moving average of $131.63. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $207.59. The stock has a market cap of $19.51 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 1.78 and a beta of 0.13.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping analysts' consensus estimates of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the company earned $5.28 earnings per share. The business's revenue for the quarter was up 7.3% on a year-over-year basis. On average, research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the topic of several recent research reports. HC Wainwright increased their price target on Biogen from $187.00 to $194.00 and gave the stock a "buy" rating in a report on Friday. The Goldman Sachs Group cut their price target on Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on Biogen from $185.00 to $175.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Piper Sandler reissued a "neutral" rating and issued a $115.00 price objective on shares of Biogen in a research note on Thursday, June 12th. Finally, Oppenheimer set a $205.00 price objective on Biogen in a research note on Friday, May 2nd. Twenty-one research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $185.63.

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.