Provident Co of the Employees of the Hebrew University LTD Purchases 3,470 Shares of Biogen Inc. (NASDAQ:BIIB)

Provident Co of the Employees of the Hebrew University LTD raised its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,529 shares of the biotechnology company's stock after buying an additional 3,470 shares during the quarter. Biogen comprises about 2.0% of Provident Co of the Employees of the Hebrew University LTD's holdings, making the stock its 22nd largest position. Provident Co of the Employees of the Hebrew University LTD's holdings in Biogen were worth $1,714,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new stake in shares of Biogen during the 4th quarter valued at approximately $5,028,000. SVB Wealth LLC purchased a new stake in shares of Biogen during the fourth quarter worth $319,000. Fisher Asset Management LLC lifted its position in shares of Biogen by 171.0% during the fourth quarter. Fisher Asset Management LLC now owns 180,924 shares of the biotechnology company's stock worth $27,667,000 after acquiring an additional 114,156 shares in the last quarter. Jacobi Capital Management LLC boosted its holdings in shares of Biogen by 40.2% in the fourth quarter. Jacobi Capital Management LLC now owns 3,947 shares of the biotechnology company's stock worth $604,000 after acquiring an additional 1,132 shares during the period. Finally, SRS Capital Advisors Inc. purchased a new position in shares of Biogen in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Trading Down 0.4%

NASDAQ BIIB traded down $0.57 during trading on Friday, hitting $132.63. 633,328 shares of the company's stock traded hands, compared to its average volume of 1,434,583. The stock has a fifty day moving average of $126.93 and a two-hundred day moving average of $134.57. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $238.00. The firm has a market cap of $19.43 billion, a P/E ratio of 13.09, a PEG ratio of 1.06 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 issued its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a net margin of 15.07% and a return on equity of 14.03%. The company had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the prior year, the company earned $3.67 earnings per share. The company's revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on BIIB shares. Royal Bank Of Canada set a $213.00 price objective on Biogen and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a report on Thursday, June 12th. HC Wainwright restated a "buy" rating and issued a $187.00 price objective on shares of Biogen in a research report on Thursday, June 26th. Truist Financial decreased their target price 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. Finally, Morgan Stanley cut their price target on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Twenty analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $188.48.

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.