Biogen Inc. (NASDAQ:BIIB) Stock Position Lifted by Integrated Advisors Network LLC

Integrated Advisors Network LLC grew its position in shares of Biogen Inc. (NASDAQ:BIIB) by 45.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,180 shares of the biotechnology company’s stock after buying an additional 685 shares during the period. Integrated Advisors Network LLC’s holdings in Biogen were worth $298,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BIIB. Norges Bank bought a new position in Biogen during the 4th quarter worth approximately $355,569,000. Invesco Ltd. raised its position in shares of Biogen by 30.6% during the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company’s stock worth $325,537,000 after purchasing an additional 499,074 shares during the period. AQR Capital Management LLC raised its position in shares of Biogen by 982.0% during the 4th quarter. AQR Capital Management LLC now owns 539,692 shares of the biotechnology company’s stock worth $81,914,000 after purchasing an additional 489,811 shares during the period. Deutsche Bank AG raised its position in shares of Biogen by 63.7% during the 4th quarter. Deutsche Bank AG now owns 1,169,570 shares of the biotechnology company’s stock worth $178,851,000 after purchasing an additional 455,285 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 worth $234,551,000 after purchasing an additional 381,122 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of research reports. The Goldman Sachs Group dropped their price target on Biogen from $219.00 to $197.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Mizuho dropped their price target on Biogen from $207.00 to $169.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Royal Bank of Canada dropped their price target on Biogen from $217.00 to $205.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Morgan Stanley dropped their price target on Biogen from $157.00 to $152.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. Finally, Oppenheimer set a $205.00 target price on Biogen in a research report on Friday, May 2nd. Twenty research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Biogen presently has a consensus rating of “Hold” and a consensus target price of $188.19.

Biogen Stock Performance

BIIB opened at $130.65 on Friday. The firm has a market cap of $19.14 billion, a PE ratio of 11.68, a P/E/G ratio of 1.51 and a beta of 0.14. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $123.75 and a 200-day simple moving average of $137.42. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $238.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.26 by ($0.24). The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.67 earnings per share. As a group, equities analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Biogen 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.