Banque Cantonale Vaudoise Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

Banque Cantonale Vaudoise bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the first quarter, Holdings Channel reports. The fund bought 9,832 shares of the biotechnology company’s stock, valued at approximately $1,345,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Israel Discount Bank of New York lifted its holdings in Biogen by 6.2% in the 4th 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 in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Biogen by 4.1% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,343 shares of the biotechnology company’s stock worth $358,000 after purchasing an additional 92 shares during the last quarter. Quent Capital LLC increased its position in shares of Biogen by 31.2% during the 1st quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $54,000 after purchasing an additional 93 shares during the last quarter. CVA Family Office LLC increased its position in shares of Biogen by 71.1% during the 1st quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 96 shares during the last quarter. Finally, Private Trust Co. NA increased its position in shares of Biogen by 74.8% during the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BIIB. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research report on Thursday, June 12th. Oppenheimer set a $205.00 target price on Biogen in a research note on Friday, May 2nd. Wedbush reiterated a “neutral” rating and issued a $121.00 price objective on shares of Biogen in a research note on Thursday, June 12th. Hsbc Global Res lowered Biogen from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. dropped their price objective on Biogen from $185.00 to $175.00 and set a “neutral” rating on the stock in a report on Monday, May 5th. Twenty-one analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Biogen has an average rating of “Hold” and a consensus target price of $186.37.

Biogen Stock Down 1.0%

Shares of BIIB stock opened at $126.64 on Thursday. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $219.44. The stock has a market cap of $18.56 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.85 and a beta of 0.14. The business’s fifty day moving average is $129.68 and its 200-day moving average is $132.05. 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 (NASDAQ:BIIB) last issued its 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 company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. Biogen had a return on equity of 14.03% and a net margin of 15.07%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.67 earnings per share. Equities analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Rachid Izzar sold 2,223 shares of the firm’s stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total value of $300,105.00. Following the completion of the sale, the insider owned 6,330 shares of the company’s stock, valued at $854,550. This trade represents a 25.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is owned by insiders.

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.