Biogen Inc. $BIIB Holdings Raised by Federated Hermes Inc.

Federated Hermes Inc. lifted its stake in Biogen Inc. (NASDAQ:BIIB) by 3.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 124,922 shares of the biotechnology company’s stock after acquiring an additional 4,645 shares during the quarter. Federated Hermes Inc. owned approximately 0.09% of Biogen worth $17,499,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Biogen by 1.5% during the second quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock valued at $2,171,533,000 after buying an additional 257,812 shares in the last quarter. State Street Corp boosted its holdings in Biogen by 1.0% in the 2nd quarter. State Street Corp now owns 7,468,807 shares of the biotechnology company’s stock valued at $938,007,000 after purchasing an additional 71,897 shares during the period. Geode Capital Management LLC grew its position in Biogen by 1.9% during the second quarter. Geode Capital Management LLC now owns 3,918,150 shares of the biotechnology company’s stock worth $490,089,000 after buying an additional 71,286 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Biogen by 2.4% during the 2nd quarter. Invesco Ltd. now owns 2,320,126 shares of the biotechnology company’s stock worth $291,385,000 after purchasing an additional 55,119 shares in the last quarter. Finally, Norges Bank acquired a new stake in Biogen during the second quarter worth $284,358,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of recent research reports. Wedbush increased their target price on Biogen from $143.00 to $178.00 and gave the stock a “neutral” rating in a report on Friday, January 23rd. Tudor Pickering set a $157.00 target price on shares of Biogen in a research report on Monday, November 3rd. Mizuho raised their price target on Biogen from $177.00 to $207.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. BMO Capital Markets lifted their target price on shares of Biogen from $150.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, December 18th. Finally, Jefferies Financial Group upped their price target on Biogen from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 28th. Eleven equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Biogen has an average rating of “Hold” and an average target price of $192.81.

Biogen Trading Up 2.1%

NASDAQ BIIB opened at $179.89 on Friday. The company has a market cap of $26.39 billion, a PE ratio of 16.40, a PEG ratio of 1.47 and a beta of 0.13. The company has a current ratio of 2.72, a quick ratio of 2.04 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average of $176.47 and a 200-day moving average of $154.81. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $190.20.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, topping the consensus estimate of $3.89 by $0.92. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.08 EPS. On average, equities research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Biogen Profile

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.