UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stake in Biogen Inc. (NASDAQ:BIIB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Biogen Inc. (NASDAQ:BIIB) by 33.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,533,813 shares of the biotechnology company’s stock after buying an additional 381,122 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Biogen were worth $234,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC boosted its stake in shares of Biogen by 3.5% during the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock valued at $320,000 after purchasing an additional 71 shares during the period. Quent Capital LLC boosted its stake in shares of Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 72 shares during the period. Principal Securities Inc. boosted its stake in shares of Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 78 shares during the period. Israel Discount Bank of New York boosted its stake in shares of Biogen by 6.2% during the fourth quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company’s stock valued at $215,000 after purchasing an additional 82 shares during the period. Finally, Deseret Mutual Benefit Administrators boosted its stake in shares of Biogen by 5.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,612 shares of the biotechnology company’s stock valued at $247,000 after purchasing an additional 87 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on BIIB shares. Hsbc Global Res lowered Biogen from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Scotiabank lowered their price objective on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 13th. HSBC lowered Biogen from a “buy” rating to a “hold” rating and set a $118.00 price objective for the company. in a research report on Monday, April 28th. JPMorgan Chase & Co. lowered their price objective on Biogen from $185.00 to $175.00 and set a “neutral” rating for the company in a research report on Monday, May 5th. Finally, Mizuho lowered their price objective on Biogen from $207.00 to $169.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Twenty analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Biogen has a consensus rating of “Hold” and a consensus price target of $191.30.

Biogen Price Performance

NASDAQ BIIB opened at $126.30 on Friday. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00. The stock has a 50-day moving average of $124.95 and a 200 day moving average of $141.27. The company has a market capitalization of $18.51 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.51 and a beta of 0.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a return on equity of 14.98% and a net margin of 16.87%. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the business posted $3.67 earnings per share. Biogen’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

Insiders Place Their Bets

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the transaction, the director now directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

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.