Lombard Odier Asset Management Europe Ltd Purchases New Position in Biogen Inc. (NASDAQ:BIIB)

Lombard Odier Asset Management Europe Ltd acquired a new position in Biogen Inc. (NASDAQ:BIIB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,686 shares of the biotechnology company’s stock, valued at approximately $1,086,000.

Several other institutional investors have also added to or reduced their stakes in BIIB. Vanguard Group Inc. lifted its stake in Biogen by 18.2% in the fourth quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock worth $3,728,185,000 after purchasing an additional 2,218,744 shares during the last quarter. FIL Ltd lifted its stake in Biogen by 936.4% in the fourth quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock worth $169,883,000 after purchasing an additional 593,158 shares during the last quarter. First Trust Advisors LP lifted its stake in Biogen by 141.0% in the fourth quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock worth $252,898,000 after purchasing an additional 571,795 shares during the last quarter. Van ECK Associates Corp lifted its stake in Biogen by 22.2% in the first quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock worth $374,623,000 after purchasing an additional 316,144 shares during the last quarter. Finally, RA Capital Management L.P. lifted its stake in Biogen by 39.0% in the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock worth $159,723,000 after purchasing an additional 207,835 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Scotiabank reduced their target price on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $285.00 target price on shares of Biogen in a research report on Wednesday, September 4th. Wells Fargo & Company reduced their target price on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Finally, Mizuho reduced their target price on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and an average price target of $275.30.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.16% of the company’s stock.

Biogen Price Performance

Shares of BIIB opened at $195.81 on Tuesday. The company has a market cap of $28.51 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 2.01 and a beta of -0.06. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $269.43. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average of $206.79 and a two-hundred day moving average of $214.82.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, topping the consensus estimate of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the firm posted $4.02 earnings per share. The business’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, analysts predict that Biogen Inc. will post 16.12 earnings per share for the current fiscal year.

Biogen Profile

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.