Flagship Harbor Advisors LLC Grows Stake in Biogen Inc. (NASDAQ:BIIB)

Flagship Harbor Advisors LLC boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 11.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,553 shares of the biotechnology company’s stock after acquiring an additional 155 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Biogen were worth $237,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of BIIB. International Assets Investment Management LLC increased its position in shares of Biogen by 19,722.9% during the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after purchasing an additional 357,181 shares during the last quarter. Mizuho Securities USA LLC grew its position in Biogen by 2,715.9% during the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after buying an additional 304,778 shares during the period. Erste Asset Management GmbH purchased a new stake in Biogen during the third quarter valued at approximately $55,826,000. State Street Corp raised its position in Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after acquiring an additional 248,942 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of Biogen by 122.1% during the 3rd quarter. Two Sigma Advisers LP now owns 427,600 shares of the biotechnology company’s stock valued at $82,886,000 after acquiring an additional 235,100 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on BIIB shares. Piper Sandler cut Biogen from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $315.00 to $138.00 in a report on Thursday, January 2nd. BMO Capital Markets cut Biogen from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $230.00 to $164.00 in a research report on Friday, December 20th. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Mizuho dropped their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Finally, Barclays decreased their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Biogen currently has an average rating of “Hold” and an average target price of $228.80.

Biogen Trading Down 0.7 %

Shares of BIIB stock opened at $144.41 on Thursday. The company has a market cap of $21.04 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.64 and a beta of -0.07. Biogen Inc. has a 1 year low of $139.71 and a 1 year high of $251.99. The stock’s 50 day simple moving average is $151.55 and its two-hundred day simple moving average is $180.05. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the company earned $4.36 earnings per share. Research analysts predict that Biogen Inc. will post 16.41 earnings per share for the current year.

Biogen Company 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.