Biogen Inc. $BIIB Shares Bought by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 751,386 shares of the biotechnology company’s stock after acquiring an additional 11,970 shares during the quarter. AustralianSuper Pty Ltd owned 0.51% of Biogen worth $105,254,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BIIB. KLP Kapitalforvaltning AS increased its stake in shares of Biogen by 6.7% in the second quarter. KLP Kapitalforvaltning AS now owns 166,577 shares of the biotechnology company’s stock worth $20,920,000 after acquiring an additional 10,500 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. boosted its position in Biogen by 43.2% during the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock valued at $4,867,000 after purchasing an additional 11,695 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in Biogen in the second quarter valued at about $225,000. Privium Fund Management B.V. acquired a new position in Biogen in the 2nd quarter worth about $2,666,000. Finally, Nordea Investment Management AB increased its position in Biogen by 5.7% in the 2nd quarter. Nordea Investment Management AB now owns 125,935 shares of the biotechnology company’s stock worth $15,810,000 after purchasing an additional 6,811 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BIIB. The Goldman Sachs Group reiterated a “buy” rating and set a $225.00 price target on shares of Biogen in a report on Thursday, January 8th. Robert W. Baird cut their price objective on shares of Biogen from $255.00 to $250.00 in a research report on Friday, October 31st. Morgan Stanley lifted their target price on shares of Biogen from $149.00 to $156.00 and gave the company an “equal weight” rating in a research note on Friday, December 12th. Wells Fargo & Company increased their price target on shares of Biogen from $155.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 10th. Finally, Wedbush raised their price target on shares of Biogen from $143.00 to $178.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Ten equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $192.04.

Biogen Stock Performance

NASDAQ BIIB opened at $174.83 on Thursday. The company’s fifty day moving average is $176.22 and its two-hundred day moving average is $154.14. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $190.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.72 and a quick ratio of 2.04. The firm has a market capitalization of $25.65 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.45 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $4.08 EPS. Equities research analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

Biogen Company 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.