Quintet Private Bank Europe S.A. Purchases 705 Shares of Biogen Inc. (NASDAQ:BIIB)

Quintet Private Bank Europe S.A. grew its position in Biogen Inc. (NASDAQ:BIIB) by 99.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,415 shares of the biotechnology company’s stock after purchasing an additional 705 shares during the quarter. Quintet Private Bank Europe S.A.’s holdings in Biogen were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BIIB. Farther Finance Advisors LLC increased its stake in Biogen by 2.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,656 shares of the biotechnology company’s stock worth $1,484,000 after buying an additional 160 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Biogen by 27.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 274,708 shares of the biotechnology company’s stock worth $53,249,000 after acquiring an additional 59,771 shares during the period. Old North State Wealth Management LLC grew its position in shares of Biogen by 0.7% during the third quarter. Old North State Wealth Management LLC now owns 13,533 shares of the biotechnology company’s stock worth $2,623,000 after purchasing an additional 100 shares in the last quarter. National Pension Service raised its stake in Biogen by 10.1% during the 3rd quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock valued at $69,699,000 after purchasing an additional 32,914 shares during the period. Finally, Asset Management One Co. Ltd. lifted its holdings in Biogen by 0.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 55,355 shares of the biotechnology company’s stock worth $10,730,000 after purchasing an additional 324 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Price Performance

Shares of BIIB stock opened at $140.50 on Monday. The stock has a 50 day moving average price of $144.43 and a 200 day moving average price of $168.26. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The firm has a market capitalization of $20.57 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.51 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, sell-side analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a report on Monday, December 16th. Wells Fargo & Company cut their target price on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. StockNews.com cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Piper Sandler restated a “neutral” rating and set a $135.00 price objective (down previously from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada decreased their target price on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Biogen currently has an average rating of “Hold” and an average target price of $213.33.

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.