Vontobel Holding Ltd. Acquires 677 Shares of Biogen Inc. (NASDAQ:BIIB)

Vontobel Holding Ltd. grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 4.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,939 shares of the biotechnology company’s stock after buying an additional 677 shares during the period. Vontobel Holding Ltd.’s holdings in Biogen were worth $2,181,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BIIB. Amundi boosted its stake in Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after purchasing an additional 319,478 shares in the last quarter. Integrated Quantitative Investments LLC bought a new position in Biogen in the 4th quarter worth about $407,000. Daiwa Securities Group Inc. boosted its stake in Biogen by 17.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 37,221 shares of the biotechnology company’s stock worth $5,692,000 after purchasing an additional 5,627 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Biogen by 6.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company’s stock worth $57,057,000 after purchasing an additional 25,464 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in Biogen by 59.9% in the 4th quarter. State of Michigan Retirement System now owns 63,503 shares of the biotechnology company’s stock worth $9,711,000 after purchasing an additional 23,800 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the topic of several research analyst reports. Piper Sandler restated a “neutral” rating and set a $115.00 target price on shares of Biogen in a research note on Thursday, June 12th. Robert W. Baird lowered their target price on shares of Biogen from $300.00 to $255.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Argus cut shares of Biogen from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Morgan Stanley lowered their target price on shares of Biogen from $157.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of Biogen in a research note on Thursday, June 12th. Twenty investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Biogen has an average rating of “Hold” and a consensus price target of $188.48.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $132.63 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.44. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $238.00. The firm has a market capitalization of $19.43 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.06 and a beta of 0.14. The stock’s 50-day simple moving average is $126.65 and its 200-day simple moving average is $134.69.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.25 billion. Biogen had a return on equity of 14.03% and a net margin of 15.07%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.67 EPS. As a group, equities research analysts forecast that Biogen Inc. will post 15.83 EPS 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.