Asset Management One Co. Ltd. lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,420 shares of the biotechnology company's stock after buying an additional 3,194 shares during the period. Asset Management One Co. Ltd.'s holdings in Biogen were worth $8,405,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Lee Danner & Bass Inc. acquired a new stake in Biogen during the 4th quarter worth about $25,000. Larson Financial Group LLC lifted 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. Colonial Trust Co SC lifted its holdings in shares of Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 186 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Biogen during the first quarter worth about $26,000. Finally, SRS Capital Advisors Inc. acquired a new stake in Biogen during the 4th quarter valued at approximately $33,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have commented on BIIB. Needham & Company LLC restated a "hold" rating on shares of Biogen in a research note on Thursday, June 12th. Morgan Stanley cut their price target on Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Wedbush reiterated a "neutral" rating and set a $121.00 price objective on shares of Biogen in a research note on Thursday, June 12th. The Goldman Sachs Group decreased their price objective on Biogen from $219.00 to $197.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Robert W. Baird decreased their price objective on Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Twenty research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Biogen presently has a consensus rating of "Hold" and an average target price of $188.48.
View Our Latest Research Report on BIIB
Biogen Price Performance
NASDAQ:BIIB opened at $126.08 on Friday. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.44. The stock has a market cap of $18.47 billion, a PE ratio of 12.45, a P/E/G ratio of 1.00 and a beta of 0.14. The stock has a 50 day moving average price of $125.68 and a 200 day moving average price of $135.32.
Biogen (NASDAQ:BIIB - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the business earned $3.67 earnings per share. The firm's revenue was up 6.2% compared to the same quarter last year. Equities research analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.
Biogen Company Profile
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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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