Czech National Bank Purchases 2,025 Shares of Biogen Inc. (NASDAQ:BIIB)

Czech National Bank grew its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 6.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,620 shares of the biotechnology company's stock after purchasing an additional 2,025 shares during the period. Czech National Bank's holdings in Biogen were worth $4,601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Amundi boosted its position in Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company's stock worth $183,461,000 after buying an additional 319,478 shares during the period. Integrated Quantitative Investments LLC acquired a new stake in Biogen during the 4th quarter worth approximately $407,000. Daiwa Securities Group Inc. boosted its position in Biogen by 17.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 37,221 shares of the biotechnology company's stock worth $5,692,000 after buying an additional 5,627 shares during the period. Y Intercept Hong Kong Ltd boosted its position in Biogen by 111.0% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 15,148 shares of the biotechnology company's stock worth $2,316,000 after buying an additional 7,970 shares during the period. Finally, New York State Common Retirement Fund boosted its position in Biogen by 17.2% during the 4th quarter. New York State Common Retirement Fund now owns 111,016 shares of the biotechnology company's stock worth $16,977,000 after buying an additional 16,271 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Down 1.1%

Shares of NASDAQ BIIB traded down $1.50 during trading on Thursday, hitting $130.36. The stock had a trading volume of 1,235,239 shares, compared to its average volume of 1,416,935. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $238.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The company has a market capitalization of $19.10 billion, a PE ratio of 11.65, a PEG ratio of 1.51 and a beta of 0.12. The firm has a fifty day moving average of $122.91 and a two-hundred day moving average of $138.77.

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 the consensus estimate of $3.26 by ($0.24). Biogen had a return on equity of 14.98% and a net margin of 16.87%. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the company earned $3.67 EPS. The business's revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BIIB shares. HC Wainwright lowered their price target on shares of Biogen from $241.00 to $187.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Truist Financial lowered their price target on shares of Biogen from $210.00 to $199.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Robert W. Baird lowered their price target on shares of Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Oppenheimer set a $205.00 price target on shares of Biogen in a report on Friday, May 2nd. Finally, Citigroup lowered their price objective on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $191.30.

Insiders Place Their Bets

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This trade represents a 43.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.16% of the company's stock.

About Biogen

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.