Charles Schwab Investment Management Inc. raised its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,019,219 shares of the biotechnology company's stock after purchasing an additional 47,956 shares during the period. Charles Schwab Investment Management Inc. owned 0.70% of Biogen worth $139,470,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. ASR Vermogensbeheer N.V. bought a new position in shares of Biogen in the 1st quarter worth about $218,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Biogen in the 1st quarter worth about $27,000. Roberts Glore & Co. Inc. IL raised its position in shares of Biogen by 17.7% in the 1st quarter. Roberts Glore & Co. Inc. IL now owns 4,163 shares of the biotechnology company's stock worth $570,000 after acquiring an additional 627 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Biogen by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company's stock worth $2,330,774,000 after acquiring an additional 283,964 shares in the last quarter. Finally, Vision Financial Markets LLC bought a new position in shares of Biogen in the 1st quarter worth about $27,000. 87.93% of the stock is owned by institutional investors.
Biogen Price Performance
Shares of NASDAQ BIIB opened at $130.67 on Monday. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $207.59. The stock's 50 day moving average price is $129.99 and its 200-day moving average price is $131.30. The company has a market capitalization of $19.16 billion, a PE ratio of 12.49, a PEG ratio of 1.03 and a beta of 0.13. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36.
Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share 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 for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the business earned $5.28 EPS. The company's revenue was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a research report on Thursday, June 12th. The Goldman Sachs Group lowered their price objective on Biogen from $219.00 to $197.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Wedbush reissued a "neutral" rating and issued a $121.00 price objective on shares of Biogen in a research report on Thursday, June 12th. Canaccord Genuity Group reduced their target price on Biogen from $265.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Hsbc Global Res downgraded Biogen from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Twenty-one equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Biogen currently has an average rating of "Hold" and an average target price of $185.63.
Check Out Our Latest Research Report on BIIB
Insider Buying and Selling at Biogen
In other news, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction that occurred 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 transaction, the insider owned 6,330 shares in the company, valued at $854,550. The trade was a 25.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by insiders.
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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