Cetera Investment Advisers Increases Stock Position in Biogen Inc. (NASDAQ:BIIB)

Cetera Investment Advisers grew its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 3.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,269 shares of the biotechnology company’s stock after buying an additional 400 shares during the period. Cetera Investment Advisers’ holdings in Biogen were worth $2,029,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in BIIB. Assenagon Asset Management S.A. lifted its holdings in shares of Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after acquiring an additional 111 shares in the last quarter. Amundi lifted its holdings in shares of Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after acquiring an additional 319,478 shares in the last quarter. Integrated Quantitative Investments LLC acquired a new position in shares of Biogen during the 4th quarter valued at $407,000. Daiwa Securities Group Inc. lifted its holdings in shares of Biogen by 17.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 37,221 shares of the biotechnology company’s stock valued at $5,692,000 after acquiring an additional 5,627 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of Biogen by 111.0% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 15,148 shares of the biotechnology company’s stock valued at $2,316,000 after acquiring an additional 7,970 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BIIB has been the topic of a number of recent analyst reports. Bank Of America (Bofa) cut their price objective on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. HSBC downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $118.00 price objective for the company. in a research report on Monday, April 28th. Scotiabank lowered their price objective on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 13th. HC Wainwright decreased their target price on shares of Biogen from $241.00 to $187.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Canaccord Genuity Group decreased their target price on shares of Biogen from $265.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Twenty research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Biogen presently has an average rating of “Hold” and an average target price of $191.30.

Biogen Stock Up 3.1%

BIIB stock opened at $129.44 on Tuesday. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The company has a market cap of $18.97 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.51 and a beta of 0.12. The company has a 50 day moving average of $125.74 and a two-hundred day moving average of $141.78.

Biogen (NASDAQ:BIIB) last released its earnings results 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 return on equity of 14.98% and a net margin of 16.87%. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the company earned $3.67 EPS. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.