Biogen Inc. (NASDAQ:BIIB) Stock Holdings Decreased by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise lessened its stake in Biogen Inc. (NASDAQ:BIIB) by 34.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,917 shares of the biotechnology company’s stock after selling 1,505 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Biogen were worth $630,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in BIIB. Leo Wealth LLC bought a new stake in shares of Biogen in the fourth quarter valued at about $2,265,000. ICICI Prudential Asset Management Co Ltd grew its position in shares of Biogen by 15.0% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock worth $9,313,000 after buying an additional 4,693 shares during the period. Boone Capital Management LLC lifted its stake in shares of Biogen by 52.9% in the 3rd quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock valued at $24,703,000 after purchasing an additional 33,238 shares during the period. iA Global Asset Management Inc. lifted its stake in Biogen by 35.2% in the third quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock valued at $3,102,000 after buying an additional 3,145 shares during the period. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Biogen by 6.2% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock valued at $1,251,000 after acquiring an additional 285 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Down 0.7 %

BIIB opened at $224.00 on Friday. The stock has a market cap of $32.61 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 2.27 and a beta of -0.02. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. The stock’s fifty day simple moving average is $218.90 and its 200 day simple moving average is $229.06. Biogen Inc. has a 1-year low of $189.44 and a 1-year high of $296.46.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.45 by $0.22. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. Biogen’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.40 earnings per share. As a group, research analysts expect that Biogen Inc. will post 15.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BIIB. Wedbush boosted their price target on shares of Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price objective on Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Needham & Company LLC restated a “buy” rating and set a $294.00 target price on shares of Biogen in a report on Wednesday, May 22nd. William Blair reiterated an “outperform” rating on shares of Biogen in a report on Monday, April 1st. Finally, Bank of America dropped their price objective on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $286.50.

About Biogen

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.