Schroder Investment Management Group Boosts Stake in Biogen Inc. (NASDAQ:BIIB)

Schroder Investment Management Group lifted its position in Biogen Inc. (NASDAQ:BIIBFree Report) by 69.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,631 shares of the biotechnology company’s stock after purchasing an additional 37,948 shares during the quarter. Schroder Investment Management Group owned 0.06% of Biogen worth $23,970,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BIIB. Quantbot Technologies LP purchased a new position in shares of Biogen in the 3rd quarter worth about $178,000. D.A. Davidson & CO. boosted its holdings in Biogen by 26.0% during the 3rd quarter. D.A. Davidson & CO. now owns 2,825 shares of the biotechnology company’s stock valued at $726,000 after acquiring an additional 583 shares during the period. Pathstone Family Office LLC boosted its holdings in Biogen by 266.6% during the 3rd quarter. Pathstone Family Office LLC now owns 5,576 shares of the biotechnology company’s stock valued at $1,433,000 after acquiring an additional 4,055 shares during the period. Blair William & Co. IL boosted its holdings in Biogen by 33.8% during the 3rd quarter. Blair William & Co. IL now owns 14,123 shares of the biotechnology company’s stock valued at $3,630,000 after acquiring an additional 3,568 shares during the period. Finally, Greenleaf Trust boosted its holdings in Biogen by 10.6% during the 3rd quarter. Greenleaf Trust now owns 1,790 shares of the biotechnology company’s stock valued at $460,000 after acquiring an additional 171 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BIIB shares. Wells Fargo & Company cut Biogen from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $315.00 to $240.00 in a report on Wednesday, February 14th. StockNews.com cut Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Royal Bank of Canada restated an “outperform” rating and set a $317.00 target price on shares of Biogen in a report on Wednesday, June 5th. Barclays lowered their price target on Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $311.00 price target on shares of Biogen in a research report on Tuesday, February 20th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $286.50.

Get Our Latest Report on Biogen

Biogen Stock Up 0.2 %

BIIB stock opened at $225.98 on Tuesday. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $319.76. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The firm has a market cap of $32.90 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 2.27 and a beta of -0.02. The business has a 50 day moving average of $214.76 and a 200 day moving average of $229.31.

Biogen (NASDAQ:BIIBGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the company earned $3.40 EPS. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, research analysts forecast that Biogen Inc. will post 15.61 EPS for the current fiscal year.

About Biogen

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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