Lazard Asset Management LLC Purchases 30,619 Shares of Biogen Inc. (NASDAQ:BIIB)

Lazard Asset Management LLC increased its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 128.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,476 shares of the biotechnology company's stock after buying an additional 30,619 shares during the quarter. Lazard Asset Management LLC's holdings in Biogen were worth $8,330,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC raised its stake in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after purchasing an additional 141 shares during the period. Lee Danner & Bass Inc. bought a new position in Biogen during the fourth quarter worth $25,000. Colonial Trust Co SC raised its holdings in shares of Biogen by 9,300.0% in the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 186 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Biogen during the fourth quarter worth $32,000. Finally, SRS Capital Advisors Inc. bought a new position in Biogen in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Biogen from $185.00 to $175.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. HC Wainwright decreased their target price on shares of Biogen from $241.00 to $187.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Citigroup decreased their price objective on Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Robert W. Baird dropped their price target on shares of Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Truist Financial decreased their target price on Biogen from $210.00 to $199.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $191.30.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the transaction, the director now owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. This trade represents a 43.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by company insiders.

Biogen Price Performance

Shares of BIIB traded up $3.24 during midday trading on Monday, hitting $128.83. The company's stock had a trading volume of 1,477,759 shares, compared to its average volume of 1,384,259. The company's fifty day simple moving average is $125.96 and its two-hundred day simple moving average is $142.09. The stock has a market capitalization of $18.88 billion, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. The business's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.67 EPS. As a group, equities analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal 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.