Meitav Dash Investments Ltd. acquired a new position in Biogen Inc. (NASDAQ:BIIB – Get Rating) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,812 shares of the biotechnology company’s stock, valued at approximately $3,330,000.
Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Biogen during the 4th quarter valued at about $373,125,000. Southeastern Asset Management Inc. TN purchased a new position in shares of Biogen during the fourth quarter worth approximately $205,977,000. Pacer Advisors Inc. raised its stake in shares of Biogen by 2,510.5% during the first quarter. Pacer Advisors Inc. now owns 324,148 shares of the biotechnology company’s stock valued at $68,266,000 after acquiring an additional 311,731 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Biogen by 59.6% in the first quarter. Assenagon Asset Management S.A. now owns 552,479 shares of the biotechnology company’s stock valued at $116,352,000 after purchasing an additional 206,210 shares during the period. Finally, Deutsche Bank AG grew its stake in Biogen by 13.4% in the fourth quarter. Deutsche Bank AG now owns 1,566,220 shares of the biotechnology company’s stock worth $375,768,000 after purchasing an additional 184,726 shares in the last quarter. Institutional investors own 83.92% of the company’s stock.
Wall Street Analyst Weigh In
BIIB has been the topic of a number of research reports. Robert W. Baird reissued a “neutral” rating and set a $224.00 target price on shares of Biogen in a research report on Tuesday. Guggenheim reduced their price objective on shares of Biogen to $190.00 in a research note on Friday, July 22nd. Needham & Company LLC dropped their target price on Biogen from $262.00 to $250.00 and set a “buy” rating on the stock in a research report on Thursday, July 21st. StockNews.com raised Biogen from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 27th. Finally, Cowen dropped their price objective on Biogen from $285.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, July 21st. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Biogen presently has an average rating of “Moderate Buy” and an average target price of $257.36.
Biogen Price Performance
Biogen (NASDAQ:BIIB – Get Rating) last issued its quarterly earnings data on Wednesday, July 20th. The biotechnology company reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.09 by $1.16. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.48 billion. Biogen had a net margin of 19.36% and a return on equity of 22.36%. The company’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.68 earnings per share. Equities research analysts forecast that Biogen Inc. will post 16.24 EPS for the current year.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.
- Get a free copy of the StockNews.com research report on Biogen (BIIB)
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