1,614 Shares in Biogen Inc. (NASDAQ:BIIB) Purchased by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,614 shares of the biotechnology company’s stock, valued at approximately $221,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its position in Biogen by 2.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 6,843 shares of the biotechnology company’s stock worth $1,026,000 after acquiring an additional 183 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Biogen by 5.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 58,226 shares of the biotechnology company’s stock worth $8,810,000 after acquiring an additional 2,871 shares during the last quarter. Vontobel Holding Ltd. raised its position in Biogen by 36.8% during the fourth quarter. Vontobel Holding Ltd. now owns 15,262 shares of the biotechnology company’s stock worth $2,334,000 after acquiring an additional 4,109 shares during the last quarter. Blue Trust Inc. raised its position in Biogen by 21.6% during the fourth quarter. Blue Trust Inc. now owns 574 shares of the biotechnology company’s stock worth $88,000 after acquiring an additional 102 shares during the last quarter. Finally, Principal Securities Inc. raised its position in Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

BIIB opened at $131.04 on Tuesday. 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 52-week low of $110.04 and a 52-week high of $238.00. The company has a 50 day moving average of $124.09 and a two-hundred day moving average of $137.06. The company has a market cap of $19.20 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.51 and a beta of 0.14.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (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 for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the prior year, the firm earned $3.67 earnings per share. Biogen’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BIIB shares. Argus cut shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Wedbush restated a “neutral” rating and set a $121.00 target price on shares of Biogen in a research report on Thursday, June 12th. JPMorgan Chase & Co. cut their target price on shares of Biogen from $185.00 to $175.00 and set a “neutral” rating for the company in a research report on Monday, May 5th. The Goldman Sachs Group cut their price objective on shares of Biogen from $219.00 to $197.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Finally, HC Wainwright cut their price objective on shares of Biogen from $241.00 to $187.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Twenty equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Biogen has a consensus rating of “Hold” and an average target price of $188.19.

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.