Motley Fool Asset Management LLC Raises Stock Position in Biogen Inc. (NASDAQ:BIIB)

Motley Fool Asset Management LLC grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 64.7% during the first quarter, HoldingsChannel.com reports. The fund owned 6,809 shares of the biotechnology company’s stock after purchasing an additional 2,676 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Biogen were worth $932,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Biogen by 1,663.4% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company’s stock valued at $106,813,000 after purchasing an additional 736,301 shares in the last quarter. AQR Capital Management LLC grew its holdings in Biogen by 982.0% during the 4th quarter. AQR Capital Management LLC now owns 539,692 shares of the biotechnology company’s stock valued at $81,914,000 after purchasing an additional 489,811 shares in the last quarter. Deutsche Bank AG grew its holdings in Biogen by 63.7% during the 4th quarter. Deutsche Bank AG now owns 1,169,570 shares of the biotechnology company’s stock valued at $178,851,000 after purchasing an additional 455,285 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in Biogen during the 1st quarter valued at $54,421,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Biogen by 33.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,533,813 shares of the biotechnology company’s stock valued at $234,551,000 after purchasing an additional 381,122 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 2.0%

Biogen stock opened at $128.00 on Tuesday. The firm has a 50 day simple moving average of $129.92 and a 200-day simple moving average of $131.17. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. The stock has a market capitalization of $18.77 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.03 and a beta of 0.13. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $207.59.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.93 by $1.54. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $5.28 earnings per share. As a group, equities research analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Activity

In related news, insider Rachid Izzar sold 2,223 shares of the business’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total value of $300,105.00. Following the sale, the insider directly owned 6,330 shares in the company, valued at $854,550. The trade was a 25.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. HSBC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $118.00 price target for the company. in a report on Monday, April 28th. Mizuho decreased their price objective on shares of Biogen from $207.00 to $169.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Hsbc Global Res lowered shares of Biogen from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. HC Wainwright raised their price objective on shares of Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, Wall Street Zen raised shares of Biogen from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Twenty-one investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Biogen has an average rating of “Hold” and an average target price of $185.63.

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.