Robeco Institutional Asset Management B.V. Grows Position in Biogen Inc. (NASDAQ:BIIB)

Robeco Institutional Asset Management B.V. increased its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 11.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 453,529 shares of the biotechnology company's stock after purchasing an additional 45,253 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.31% of Biogen worth $62,061,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Amundi lifted its stake in Biogen by 35.6% in the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company's stock worth $183,461,000 after purchasing an additional 319,478 shares during the last quarter. Integrated Quantitative Investments LLC purchased a new stake in shares of Biogen in the fourth quarter worth approximately $407,000. Daiwa Securities Group Inc. raised its holdings in shares of Biogen by 17.8% in the fourth 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. State of Michigan Retirement System lifted its stake in shares of Biogen by 59.9% during the 4th quarter. State of Michigan Retirement System now owns 63,503 shares of the biotechnology company's stock worth $9,711,000 after acquiring an additional 23,800 shares during the last quarter. Finally, APG Asset Management N.V. lifted its stake in shares of Biogen by 346.1% during the 4th quarter. APG Asset Management N.V. now owns 105,446 shares of the biotechnology company's stock worth $15,572,000 after acquiring an additional 81,811 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on BIIB. HSBC downgraded Biogen from a "buy" rating to a "hold" rating and set a $118.00 price objective on the stock. in a research report on Monday, April 28th. Morgan Stanley cut their price target on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Wedbush reaffirmed a "neutral" rating and issued a $121.00 price target on shares of Biogen in a research note on Thursday, June 12th. Royal Bank Of Canada set a $213.00 price objective on shares of Biogen and gave the company an "outperform" rating in a report on Wednesday. Finally, Canaccord Genuity Group dropped their target price on shares of Biogen from $265.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Twenty investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $188.48.

Biogen Stock Down 0.7%

Shares of Biogen stock traded down $0.84 on Friday, reaching $126.08. The stock had a trading volume of 1,099,663 shares, compared to its average volume of 1,430,220. The company has a quick ratio of 1.01, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $18.47 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.01 and a beta of 0.14. The company has a 50 day moving average price of $125.53 and a 200 day moving average price of $135.53. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly 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 14.03% and a net margin of 15.07%. The firm had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.25 billion. During the same period in the prior year, the firm posted $3.67 earnings per share. Biogen's revenue for the quarter 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 year.

Biogen Company 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.