Bank Julius Baer & Co. Ltd Zurich Boosts Stake in Biogen Inc. (NASDAQ:BIIB)

Bank Julius Baer & Co. Ltd Zurich increased its position in Biogen Inc. (NASDAQ:BIIB) by 3.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,712 shares of the biotechnology company’s stock after purchasing an additional 53 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Biogen were worth $443,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Biogen by 15.0% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock valued at $9,313,000 after purchasing an additional 4,693 shares during the last quarter. Boone Capital Management LLC increased its position in Biogen by 52.9% in the 3rd quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock valued at $24,703,000 after acquiring an additional 33,238 shares during the period. iA Global Asset Management Inc. increased its position in Biogen by 35.2% in the 3rd quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock valued at $3,102,000 after acquiring an additional 3,145 shares during the period. Illinois Municipal Retirement Fund increased its position in Biogen by 13.8% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock valued at $17,577,000 after acquiring an additional 8,291 shares during the period. Finally, Dynamic Advisor Solutions LLC increased its position in Biogen by 6.2% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock valued at $1,251,000 after acquiring an additional 285 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 262 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the sale, the insider now owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Biogen news, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Priya Singhal sold 262 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the transaction, the insider now directly owns 4,886 shares in the company, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 882 shares of company stock valued at $202,030. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BIIB has been the topic of several recent research reports. UBS Group dropped their price target on Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. StockNews.com cut Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Needham & Company LLC restated a “buy” rating and issued a $294.00 price target on shares of Biogen in a research report on Wednesday. Bank of America dropped their price target on Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Finally, Canaccord Genuity Group dropped their price target on Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $293.88.

Biogen Price Performance

BIIB stock opened at $208.90 on Friday. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $319.76. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.26 and a current ratio of 2.10. The stock’s 50 day moving average price is $212.55 and its 200 day moving average price is $233.57. The firm has a market cap of $30.42 billion, a P/E ratio of 26.08, a PEG ratio of 2.13 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the company earned $3.40 EPS. Biogen’s revenue was down 7.0% on a year-over-year basis. On average, sell-side analysts expect that Biogen Inc. will post 15.57 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.