Biogen Inc. $BIIB Position Boosted by Keybank National Association OH

Keybank National Association OH increased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 515.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,821 shares of the biotechnology company’s stock after buying an additional 40,046 shares during the period. Keybank National Association OH’s holdings in Biogen were worth $10,802,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BIIB. Align Financial LLC increased its holdings in Biogen by 339.3% in the third quarter. Align Financial LLC now owns 123 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 95 shares in the last quarter. Bell Investment Advisors Inc purchased a new stake in shares of Biogen during the 2nd quarter worth about $27,000. Provenance Wealth Advisors LLC purchased a new stake in shares of Biogen during the 3rd quarter worth about $29,000. Canton Hathaway LLC purchased a new stake in shares of Biogen during the 3rd quarter worth about $31,000. Finally, Ashurst Perkins Coie Trust Co boosted its stake in shares of Biogen by 92.2% during the 3rd quarter. Ashurst Perkins Coie Trust Co now owns 173 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 83 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

NASDAQ:BIIB opened at $250.48 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.37 and a current ratio of 1.95. The company has a fifty day moving average of $232.77 and a two-hundred day moving average of $204.64. The stock has a market capitalization of $37.03 billion, a PE ratio of 107.04, a P/E/G ratio of 2.87 and a beta of 0.10. Biogen Inc. has a fifty-two week low of $160.36 and a fifty-two week high of $261.00.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 28th. The biotechnology company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.63. Biogen had a net margin of 3.37% and a return on equity of 9.38%. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same period last year, the firm posted $4.81 earnings per share. The company’s revenue was up 10.6% compared to the same quarter last year. As a group, research analysts forecast that Biogen Inc. will post 12.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BIIB shares. JPMorgan Chase & Co. upgraded Biogen from a “neutral” rating to an “overweight” rating and raised their target price for the company from $210.00 to $300.00 in a research report on Monday, October 12th. Truist Financial reaffirmed a “buy” rating and issued a $260.00 price target (up from $235.00) on shares of Biogen in a report on Thursday, October 29th. Mizuho increased their price target on Biogen from $221.00 to $241.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Piper Sandler reiterated an “overweight” rating and set a $305.00 price target (up from $245.00) on shares of Biogen in a research report on Monday. Finally, Robert W. Baird raised their price objective on Biogen from $250.00 to $290.00 and gave the company an “outperform” rating in a report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $254.41.

Biogen Company Profile

Biogen is a biotechnology company focused on developing and commercializing medicines for neurological and rare diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy and Friedreich’s ataxia. Its products include multiple sclerosis treatments such as Tysabri, Tecfidera and Vumerity, and Skyclarys for Friedreich’s ataxia. Biogen shares rights to several medicines with other companies, including Leqembi for Alzheimer’s disease with Eisai and Spinraza for spinal muscular atrophy with Ionis Pharmaceuticals.