Banque Pictet & Cie SA lifted its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,274 shares of the biotechnology company's stock after acquiring an additional 4,780 shares during the period. Banque Pictet & Cie SA's holdings in Biogen were worth $9,343,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in BIIB. Proficio Capital Partners LLC purchased a new position in shares of Biogen in the fourth quarter worth approximately $5,028,000. Raymond James Financial Inc. purchased a new stake in shares of Biogen in the fourth quarter worth approximately $21,710,000. PNC Financial Services Group Inc. boosted its holdings in shares of Biogen by 7.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 25,174 shares of the biotechnology company's stock worth $3,850,000 after purchasing an additional 1,753 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after purchasing an additional 141 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in shares of Biogen during the fourth quarter worth approximately $32,000. 87.93% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. Argus cut shares of Biogen from a "buy" rating to a "hold" rating in a report on Friday, April 4th. HC Wainwright restated a "buy" rating and set a $187.00 price target on shares of Biogen in a report on Thursday, June 26th. HSBC cut shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 price target for the company. in a report on Monday, April 28th. Mizuho reduced their price target on Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada set a $213.00 price target on Biogen and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Twenty analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $188.48.
Check Out Our Latest Report on Biogen
Biogen Stock Performance
BIIB stock traded down $1.12 on Friday, reaching $134.21. 1,137,456 shares of the company were exchanged, compared to its average volume of 1,448,057. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $236.48. The stock's fifty day moving average price is $128.17 and its 200 day moving average price is $133.97. The firm has a market capitalization of $19.67 billion, a PE ratio of 13.25, a PEG ratio of 1.07 and a beta of 0.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.01.
Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). Biogen had a return on equity of 14.03% and a net margin of 15.07%. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the firm posted $3.67 EPS. The company's revenue was up 6.2% compared to the same quarter last year. On average, research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.
Biogen Profile
(
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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