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Banque Cantonale Vaudoise Acquires Shares of 9,832 Biogen Inc. (NASDAQ:BIIB)

Biogen logo with Medical background

Key Points

  • Banque Cantonale Vaudoise has invested approximately $1.345 million by purchasing 9,832 shares of Biogen Inc. in the 1st quarter.
  • The stock has been the subject of multiple brokerage upgrades and downgrades, with the average rating currently being a "Hold" and a consensus price target of $186.37.
  • Biogen reported earnings of $3.02 per share for the last quarter, which missed analysts' expectations by $0.24, although revenue was above expectations at $2.43 billion.
  • MarketBeat previews top five stocks to own in September.

Banque Cantonale Vaudoise acquired a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,832 shares of the biotechnology company's stock, valued at approximately $1,345,000.

Other institutional investors have also modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Biogen by 1,663.4% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company's stock worth $106,813,000 after acquiring an additional 736,301 shares during the period. Invesco Ltd. increased its stake in shares of Biogen by 30.6% in the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock valued at $325,537,000 after buying an additional 499,074 shares during the period. AQR Capital Management LLC grew its stake in shares of Biogen by 982.0% during the fourth quarter. AQR Capital Management LLC now owns 539,692 shares of the biotechnology company's stock worth $81,914,000 after purchasing an additional 489,811 shares during the period. Deutsche Bank AG grew its stake in shares of Biogen by 63.7% during the fourth quarter. Deutsche Bank AG now owns 1,169,570 shares of the biotechnology company's stock worth $178,851,000 after purchasing an additional 455,285 shares during the period. Finally, AustralianSuper Pty Ltd acquired a new position in Biogen in the first quarter valued at about $54,421,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Insider Transactions at Biogen

In other news, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total value of $300,105.00. Following the completion of the sale, the insider owned 6,330 shares in the company, valued at approximately $854,550. The trade was a 25.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

BIIB has been the topic of a number of recent analyst reports. Robert W. Baird lowered their price target on Biogen from $300.00 to $255.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a research report on Thursday, June 12th. Royal Bank Of Canada increased their price target on Biogen from $208.00 to $219.00 and gave the stock an "outperform" rating in a research report on Friday. Wedbush restated a "neutral" rating and set a $121.00 target price on shares of Biogen in a research note on Thursday, June 12th. Finally, HSBC cut Biogen from a "buy" rating to a "hold" rating and set a $118.00 target price for the company. in a research note on Monday, April 28th. Twenty-one equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $185.63.

View Our Latest Report on BIIB

Biogen Stock Up 3.1%

Shares of BIIB traded up $3.95 on Friday, hitting $131.95. 2,798,041 shares of the stock traded hands, compared to its average volume of 1,270,644. The company has a market capitalization of $19.33 billion, a PE ratio of 12.61, a P/E/G ratio of 1.91 and a beta of 0.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.01 and a current ratio of 2.50. The business has a 50 day simple moving average of $129.84 and a 200 day simple moving average of $131.82. Biogen Inc. has a one year low of $110.04 and a one year high of $213.50.

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

About Biogen

(Free Report)

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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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