Gulf International Bank UK Ltd Has $2.68 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Gulf International Bank UK Ltd lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,429 shares of the biotechnology company’s stock after purchasing an additional 63 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Biogen were worth $2,680,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Livelsberger Financial Advisory acquired a new stake in Biogen during the fourth quarter worth about $26,000. Rise Advisors LLC acquired a new stake in shares of Biogen during the 1st quarter worth approximately $27,000. Gladius Capital Management LP bought a new position in Biogen in the third quarter valued at approximately $28,000. KB Financial Partners LLC raised its position in Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its position in Biogen by 76.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 51 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BIIB has been the topic of several recent analyst reports. Wedbush lifted their price target on Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Truist Financial reissued a “buy” rating and issued a $340.00 target price on shares of Biogen in a report on Thursday, May 16th. JPMorgan Chase & Co. decreased their price target on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Bank of America lowered their price objective on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $294.00 target price on shares of Biogen in a research note on Wednesday, May 22nd. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Biogen has an average rating of “Moderate Buy” and a consensus target price of $286.50.

Biogen Stock Performance

Shares of BIIB opened at $224.00 on Friday. 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 firm’s fifty day simple moving average is $218.90 and its two-hundred day simple moving average is $229.06. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $296.46. The stock has a market capitalization of $32.61 billion, a P/E ratio of 27.97, a price-to-earnings-growth ratio of 2.27 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last announced its 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. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the company earned $3.40 EPS. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, analysts predict that Biogen Inc. will post 15.63 EPS for the current year.

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.