Oddo BHF Asset Management Sas Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

Oddo BHF Asset Management Sas acquired a new stake in Biogen Inc. (NASDAQ:BIIB) in the third quarter, Holdings Channel.com reports. The fund acquired 7,136 shares of the biotechnology company’s stock, valued at approximately $1,383,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Inspire Trust Co. N.A. increased its holdings in shares of Biogen by 58.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after buying an additional 4,025 shares during the last quarter. Synovus Financial Corp grew its position in Biogen by 6.0% in the third quarter. Synovus Financial Corp now owns 14,462 shares of the biotechnology company’s stock worth $2,803,000 after acquiring an additional 821 shares during the period. Tidal Investments LLC increased its stake in Biogen by 13.6% during the third quarter. Tidal Investments LLC now owns 9,012 shares of the biotechnology company’s stock worth $1,747,000 after acquiring an additional 1,082 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Biogen in the third quarter valued at $150,000. Finally, World Investment Advisors LLC acquired a new position in shares of Biogen in the 3rd quarter valued at $1,118,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Trading Down 3.4 %

Shares of Biogen stock opened at $150.03 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $171.21 and a 200-day simple moving average of $198.41. The stock has a market cap of $21.86 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.83 and a beta of -0.08. Biogen Inc. has a 12-month low of $149.93 and a 12-month high of $268.30.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the company posted $4.36 earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities analysts forecast that Biogen Inc. will post 16.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BIIB has been the topic of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $292.00 price objective on shares of Biogen in a report on Monday, September 9th. HC Wainwright reiterated a “buy” rating and issued a $300.00 target price on shares of Biogen in a report on Thursday, October 31st. TD Cowen decreased their price target on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Wolfe Research began coverage on Biogen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, Barclays decreased their target price on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $249.80.

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.