Raiffeisen Bank International AG Purchases New Holdings in Biogen Inc. (NASDAQ:BIIB)

Raiffeisen Bank International AG acquired a new position in Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,571 shares of the biotechnology company’s stock, valued at approximately $236,000.

Several other large investors have also recently bought and sold shares of the company. Lee Danner & Bass Inc. bought a new stake in shares of Biogen during the fourth quarter worth $25,000. Larson Financial Group LLC increased its position in Biogen by 640.9% in 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 during the period. Colonial Trust Co SC raised its holdings 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 purchasing an additional 186 shares during the last quarter. SRS Capital Advisors Inc. acquired a new position in Biogen during the 4th quarter valued at about $33,000. Finally, OFI Invest Asset Management acquired a new position in Biogen during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This trade represents a 43.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley lowered their price target on shares of Biogen from $157.00 to $152.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. lowered their target price on shares of Biogen from $185.00 to $175.00 and set a “neutral” rating for the company in a report on Monday, May 5th. Argus downgraded Biogen from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Scotiabank reduced their price target on Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Piper Sandler dropped their price objective on Biogen from $135.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Biogen presently has a consensus rating of “Hold” and an average price target of $191.30.

Biogen Stock Up 1.5%

Shares of Biogen stock opened at $125.59 on Monday. The firm has a market cap of $18.40 billion, a PE ratio of 11.22, a P/E/G ratio of 1.51 and a beta of 0.12. The business’s 50 day simple moving average is $125.96 and its 200 day simple moving average is $142.09. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $238.00.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the business earned $3.67 earnings per share. Biogen’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

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.