Vontobel Holding Ltd. Buys 18,005 Shares of Biogen Inc. (NASDAQ:BIIB)

Vontobel Holding Ltd. raised its stake in Biogen Inc. (NASDAQ:BIIB) by 93.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 37,337 shares of the biotechnology company’s stock after acquiring an additional 18,005 shares during the period. Vontobel Holding Ltd.’s holdings in Biogen were worth $9,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. ICICI Prudential Asset Management Co Ltd boosted its holdings in Biogen by 15.0% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock valued at $9,313,000 after purchasing an additional 4,693 shares during the period. Boone Capital Management LLC boosted its holdings in Biogen by 52.9% in the 3rd quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock valued at $24,703,000 after purchasing an additional 33,238 shares during the period. iA Global Asset Management Inc. boosted its holdings in Biogen by 35.2% in the 3rd quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock valued at $3,102,000 after purchasing an additional 3,145 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in Biogen by 13.8% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock valued at $17,577,000 after purchasing an additional 8,291 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its holdings in shares of Biogen by 6.2% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock worth $1,251,000 after acquiring an additional 285 shares during the period. 87.93% of the stock is owned by institutional investors.

Biogen Stock Down 0.8 %

Shares of NASDAQ:BIIB opened at $195.15 on Wednesday. Biogen Inc. has a one year low of $194.94 and a one year high of $319.76. The company has a 50 day moving average of $218.13 and a 200-day moving average of $236.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. The stock has a market cap of $28.37 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 1.87 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the business earned $4.05 EPS. On average, sell-side analysts forecast that Biogen Inc. will post 15.48 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric K. Rowinsky acquired 455 shares of Biogen stock in a transaction that occurred on Thursday, February 15th. The shares were purchased at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the purchase, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The disclosure for this purchase can be found here. Insiders have sold 882 shares of company stock valued at $202,030 in the last 90 days. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on BIIB shares. Piper Sandler reduced their price objective on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Wells Fargo & Company downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $315.00 to $240.00 in a report on Wednesday, February 14th. Oppenheimer reduced their price objective on shares of Biogen from $295.00 to $290.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Truist Financial reaffirmed a “buy” rating and set a $340.00 price objective on shares of Biogen in a report on Monday, March 25th. Finally, JPMorgan Chase & Co. cut their price target on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Ten investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, Biogen currently has an average rating of “Moderate Buy” and a consensus target price of $298.96.

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.