Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Swiss National Bank

Swiss National Bank boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 432,100 shares of the biotechnology company’s stock after buying an additional 1,700 shares during the quarter. Swiss National Bank owned 0.30% of Biogen worth $83,758,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd grew its position in Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after buying an additional 53 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Biogen in the second quarter worth approximately $33,000. Ashton Thomas Securities LLC acquired a new position in Biogen in the third quarter worth approximately $33,000. EntryPoint Capital LLC acquired a new position in Biogen in the first quarter worth approximately $36,000. Finally, Versant Capital Management Inc boosted its stake in Biogen by 123.2% in the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Truist Financial reaffirmed a “buy” rating and issued a $302.00 price objective (down previously from $340.00) on shares of Biogen in a research note on Monday, August 5th. Oppenheimer decreased their price objective on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Robert W. Baird lifted their target price on shares of Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday. Mizuho decreased their target price on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada decreased their target price on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Thirteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $258.96.

Biogen Trading Down 1.3 %

Shares of BIIB stock opened at $157.94 on Tuesday. The stock has a market cap of $23.01 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.51 and a beta of -0.06. The stock has a 50-day moving average of $185.16 and a 200-day moving average of $206.88. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 1-year low of $157.40 and a 1-year high of $268.30.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.36 earnings per share. On average, equities research analysts forecast that Biogen Inc. will post 16.42 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now owns 5,316 shares of the company’s stock, valued at $1,085,633.52. This trade represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

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.