Lazard Asset Management LLC Raises Stock Position in Biogen Inc. (NASDAQ:BIIB)

Lazard Asset Management LLC grew its holdings in shares of Biogen Inc. (NASDAQ:BIIBGet Rating) by 66.3% during the second quarter, Holdings Channel reports. The firm owned 1,334 shares of the biotechnology company’s stock after purchasing an additional 532 shares during the quarter. Lazard Asset Management LLC’s holdings in Biogen were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BIIB. Park Avenue Securities LLC increased its stake in shares of Biogen by 24.6% during the first quarter. Park Avenue Securities LLC now owns 1,059 shares of the biotechnology company’s stock worth $223,000 after buying an additional 209 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of Biogen by 1.0% during the first quarter. Mutual of America Capital Management LLC now owns 19,584 shares of the biotechnology company’s stock worth $4,124,000 after buying an additional 201 shares during the period. HNP Capital LLC purchased a new stake in shares of Biogen during the first quarter worth approximately $222,000. Calamos Advisors LLC increased its stake in shares of Biogen by 15.4% during the first quarter. Calamos Advisors LLC now owns 51,941 shares of the biotechnology company’s stock worth $10,939,000 after buying an additional 6,923 shares during the period. Finally, FDx Advisors Inc. increased its stake in shares of Biogen by 23.1% during the first quarter. FDx Advisors Inc. now owns 3,326 shares of the biotechnology company’s stock worth $700,000 after buying an additional 624 shares during the period. 83.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on BIIB shares. Atlantic Securities upped their target price on shares of Biogen from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 26th. Wedbush upped their target price on shares of Biogen from $183.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 28th. Guggenheim upped their target price on shares of Biogen from $265.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, November 11th. UBS Group increased their price target on shares of Biogen from $238.00 to $309.00 and gave the company a “buy” rating in a research note on Thursday, October 6th. Finally, Argus upgraded shares of Biogen from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Friday, October 7th. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Biogen currently has a consensus rating of “Moderate Buy” and a consensus price target of $299.75.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $302.89 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.49 and a quick ratio of 2.14. The stock has a fifty day moving average price of $258.51 and a 200 day moving average price of $224.50. Biogen Inc. has a 1-year low of $187.16 and a 1-year high of $305.48. The company has a market cap of $43.62 billion, a PE ratio of 15.42, a P/E/G ratio of 1.77 and a beta of 0.19.

Biogen (NASDAQ:BIIBGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The biotechnology company reported $4.77 earnings per share for the quarter, topping the consensus estimate of $4.16 by $0.61. Biogen had a return on equity of 21.31% and a net margin of 27.64%. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period last year, the company earned $4.77 earnings per share. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. Sell-side analysts forecast that Biogen Inc. will post 17.03 EPS for the current year.

Insiders Place Their Bets

In other Biogen news, EVP Susan H. Alexander sold 5,532 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $280.70, for a total value of $1,552,832.40. Following the completion of the transaction, the executive vice president now owns 39,396 shares in the company, valued at $11,058,457.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is currently owned by company insiders.

Biogen Profile

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Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis, SPINRAZA for the treatment of spinal muscular atrophy, and FUMADERM for the treatment of severe plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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