Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Czech National Bank

Czech National Bank lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 6.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,672 shares of the biotechnology company’s stock after purchasing an additional 1,928 shares during the period. Czech National Bank’s holdings in Biogen were worth $5,752,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BIIB. Clear Street Markets LLC boosted its holdings in shares of Biogen by 5,600.0% in the fourth quarter. Clear Street Markets LLC now owns 912 shares of the biotechnology company’s stock worth $236,000 after buying an additional 896 shares during the period. Bayesian Capital Management LP acquired a new position in Biogen in the 4th quarter worth approximately $3,002,000. Profund Advisors LLC grew its position in Biogen by 15.1% during the 4th quarter. Profund Advisors LLC now owns 19,612 shares of the biotechnology company’s stock worth $5,075,000 after purchasing an additional 2,571 shares in the last quarter. FIL Ltd raised its stake in Biogen by 936.4% during the 4th quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock valued at $169,883,000 after purchasing an additional 593,158 shares during the period. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Biogen by 31.6% in the fourth quarter. V Square Quantitative Management LLC now owns 2,661 shares of the biotechnology company’s stock valued at $689,000 after purchasing an additional 639 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Up 1.5 %

BIIB stock opened at $188.59 on Friday. The stock has a market capitalization of $27.46 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 1.97 and a beta of -0.06. The company has a 50-day moving average of $198.93 and a two-hundred day moving average of $212.09. Biogen Inc. has a 52-week low of $181.31 and a 52-week high of $269.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the firm posted $4.02 EPS. The company’s revenue was up .4% on a year-over-year basis. As a group, equities research analysts anticipate that Biogen Inc. will post 16.12 EPS for the current year.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on BIIB. Truist Financial reissued a “buy” rating and set a $302.00 price target (down from $340.00) on shares of Biogen in a research report on Monday, August 5th. Needham & Company LLC reissued a “buy” rating and issued a $285.00 price target on shares of Biogen in a research report on Tuesday, September 24th. UBS Group lowered their price objective on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Robert W. Baird cut their target price on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Finally, Wedbush decreased their target price on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Nine research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $273.78.

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.