B. Metzler seel. Sohn & Co. Holding AG Purchases New Holdings in Biogen Inc. (NASDAQ:BIIB)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 7,361 shares of the biotechnology company’s stock, valued at approximately $1,427,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its stake in shares of Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 49 shares during the last quarter. Plato Investment Management Ltd lifted its stake in shares of Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 53 shares during the period. CWM LLC boosted its position in shares of Biogen by 1.7% in the 2nd quarter. CWM LLC now owns 3,765 shares of the biotechnology company’s stock worth $873,000 after purchasing an additional 62 shares during the last quarter. Quintet Private Bank Europe S.A. boosted its holdings in Biogen by 9.7% during the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock worth $138,000 after buying an additional 63 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Biogen by 1.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,122 shares of the biotechnology company’s stock worth $1,419,000 after buying an additional 64 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the subject of several recent analyst reports. Morgan Stanley downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $285.00 to $204.00 in a research note on Thursday, October 31st. StockNews.com raised Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Wells Fargo & Company cut their price target on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Citigroup started coverage on shares of Biogen in a research note on Thursday, November 14th. They issued a “neutral” rating and a $190.00 target price for the company. Finally, UBS Group decreased their price objective on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Thirteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $257.20.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. This trade represents a 7.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

Biogen Stock Performance

NASDAQ:BIIB opened at $157.90 on Friday. The stock has a 50 day simple moving average of $181.85 and a 200 day simple moving average of $205.32. The stock has a market cap of $23.01 billion, a P/E ratio of 14.26, a PEG ratio of 1.47 and a beta of -0.06. Biogen Inc. has a 1-year low of $153.62 and a 1-year high of $268.30. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the business posted $4.36 earnings per share. Biogen’s quarterly revenue was down 2.5% on a year-over-year basis. Research analysts anticipate that Biogen Inc. will post 16.45 earnings per share for the current 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.