Gulf International Bank UK Ltd Has $2.22 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Gulf International Bank UK Ltd cut its holdings in Biogen Inc. (NASDAQ:BIIB) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,438 shares of the biotechnology company’s stock after selling 511 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Biogen were worth $2,217,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Plato Investment Management Ltd increased its holdings in shares of Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after buying an additional 53 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Biogen in the second quarter valued at about $33,000. EntryPoint Capital LLC acquired a new stake in shares of Biogen during the first quarter valued at about $36,000. Versant Capital Management Inc grew its holdings in shares of Biogen by 123.2% during the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 85 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Biogen by 249.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Activity

In other Biogen news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BIIB has been the topic of several recent research reports. Morgan Stanley downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $285.00 to $204.00 in a research report on Thursday, October 31st. JPMorgan Chase & Co. reduced their price objective on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday. Mizuho decreased their price objective on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. BMO Capital Markets cut their target price on Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, Piper Sandler decreased their price target on Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Ten research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $261.58.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $174.40 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. The stock has a market cap of $25.41 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.64 and a beta of -0.06. The stock’s fifty day simple moving average is $190.96 and its two-hundred day simple moving average is $209.10. Biogen Inc. has a 1-year low of $170.71 and a 1-year high of $268.30.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.43 billion. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.36 earnings per share. As a group, analysts forecast that Biogen Inc. will post 16.4 EPS 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.