North Growth Management Ltd. Acquires 16,000 Shares of Biogen Inc. (NASDAQ:BIIB)

North Growth Management Ltd. lifted its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 88.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 34,000 shares of the biotechnology company's stock after purchasing an additional 16,000 shares during the quarter. North Growth Management Ltd.'s holdings in Biogen were worth $4,653,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Signaturefd LLC grew its holdings in Biogen by 3.5% during the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company's stock worth $320,000 after acquiring an additional 71 shares during the last quarter. Principal Securities Inc. grew its holdings in Biogen by 30.1% during the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock worth $52,000 after acquiring an additional 78 shares during the last quarter. Israel Discount Bank of New York grew its holdings in Biogen by 6.2% during the 4th quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company's stock worth $215,000 after acquiring an additional 82 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings in Biogen by 5.7% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,612 shares of the biotechnology company's stock worth $247,000 after acquiring an additional 87 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its holdings in Biogen by 4.1% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,343 shares of the biotechnology company's stock worth $358,000 after acquiring an additional 92 shares during the last quarter. Institutional investors own 87.93% of the company's stock.

Biogen Stock Up 0.4%

NASDAQ BIIB traded up $0.50 during trading hours on Friday, reaching $127.04. 2,166,525 shares of the company's stock were exchanged, compared to its average volume of 1,437,935. The company's 50-day moving average is $124.83 and its two-hundred day moving average is $136.42. 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 company has a market capitalization of $18.62 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.00 and a beta of 0.14.

Biogen (NASDAQ:BIIB - Get Free Report) last posted 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 business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the company posted $3.67 earnings per share. Biogen's revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. HSBC lowered shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 price objective on the stock. in a report on Monday, April 28th. Truist Financial decreased their price objective on shares of Biogen from $210.00 to $199.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Mizuho decreased their price objective on shares of Biogen from $207.00 to $169.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Morgan Stanley cut their target price on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Finally, The Goldman Sachs Group cut their target price on shares of Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Twenty research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $188.19.

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.