Deutsche Bank AG Increases Stock Position in Biogen Inc. (NASDAQ:BIIB)

Deutsche Bank AG grew its stake in Biogen Inc. (NASDAQ:BIIB) by 63.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,169,570 shares of the biotechnology company’s stock after acquiring an additional 455,285 shares during the period. Deutsche Bank AG’s holdings in Biogen were worth $178,851,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Larson Financial Group LLC lifted its stake in Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 141 shares in the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Biogen in the 4th quarter valued at $25,000. Colonial Trust Co SC lifted its stake in Biogen by 9,300.0% during the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 186 shares in the last quarter. OFI Invest Asset Management purchased a new position in Biogen during the 4th quarter valued at about $32,000. Finally, SRS Capital Advisors Inc. acquired a new position in Biogen in the 4th quarter valued at about $33,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BIIB shares. Royal Bank of Canada lowered their price objective on shares of Biogen from $217.00 to $205.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. William Blair restated an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. JPMorgan Chase & Co. reduced their price objective on Biogen from $185.00 to $175.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Robert W. Baird lowered their target price on Biogen from $300.00 to $255.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research report on Friday, May 2nd. Twenty analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Biogen currently has a consensus rating of “Hold” and an average price target of $191.30.

Biogen Stock Performance

NASDAQ BIIB opened at $118.20 on Friday. The firm has a market cap of $17.32 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.51 and a beta of 0.12. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $238.00. The business’s 50-day moving average price is $128.33 and its 200 day moving average price is $144.65. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the business posted $3.67 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.

About Biogen

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.