Czech National Bank Has $4.83 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Czech National Bank boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,595 shares of the biotechnology company’s stock after acquiring an additional 1,923 shares during the period. Czech National Bank’s holdings in Biogen were worth $4,832,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BIIB. Choreo LLC bought a new position in Biogen in the second quarter worth $297,000. Parallel Advisors LLC lifted its holdings in shares of Biogen by 8.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,982 shares of the biotechnology company’s stock worth $459,000 after acquiring an additional 156 shares during the period. Citizens Financial Group Inc. RI acquired a new stake in shares of Biogen during the 2nd quarter valued at about $239,000. Moors & Cabot Inc. increased its stake in Biogen by 11.3% in the second quarter. Moors & Cabot Inc. now owns 1,130 shares of the biotechnology company’s stock valued at $262,000 after acquiring an additional 115 shares during the period. Finally, E Fund Management Co. Ltd. raised its position in Biogen by 68.9% in the second quarter. E Fund Management Co. Ltd. now owns 7,067 shares of the biotechnology company’s stock worth $1,638,000 after purchasing an additional 2,884 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $141.00 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 1-year low of $140.87 and a 1-year high of $252.17. The stock has a market capitalization of $20.55 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.74 and a beta of -0.07. The business has a 50-day moving average price of $156.24 and a two-hundred day moving average price of $186.11.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm posted $4.36 earnings per share. Biogen’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts predict that Biogen Inc. will post 16.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BIIB has been the topic of several analyst reports. Truist Financial lowered their price objective on Biogen from $302.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. TD Cowen lowered their price target on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. UBS Group cut their price objective on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Piper Sandler lowered shares of Biogen from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $315.00 to $138.00 in a report on Thursday, January 2nd. Finally, Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and cut their price target for the company from $250.00 to $180.00 in a report on Monday, December 9th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $230.00.

Biogen Company 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.