Swiss National Bank Buys 1,700 Shares of Biogen Inc. (NASDAQ:BIIB)

Swiss National Bank grew its stake in Biogen Inc. (NASDAQ:BIIB) by 0.4% during the third quarter, Holdings Channel reports. The firm owned 432,100 shares of the biotechnology company’s stock after purchasing an additional 1,700 shares during the period. Swiss National Bank’s holdings in Biogen were worth $83,758,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Plato Investment Management Ltd lifted its holdings in shares of Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 53 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Biogen during the second quarter worth $33,000. Ashton Thomas Securities LLC bought a new stake in Biogen during the third quarter worth $33,000. EntryPoint Capital LLC bought a new stake in Biogen during the first quarter worth $36,000. Finally, Versant Capital Management Inc lifted its holdings in 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 acquiring an additional 85 shares during the period. Institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BIIB shares. Barclays dropped their price target on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Oppenheimer dropped their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Citigroup started coverage on Biogen in a report on Thursday, November 14th. They set a “neutral” rating and a $190.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $300.00 price target on shares of Biogen in a report on Thursday, October 31st. Finally, Royal Bank of Canada decreased their target price on Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Thirteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $258.96.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction on Tuesday, September 3rd. The stock was 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 owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This trade represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $157.94 on Tuesday. The stock has a market cap of $23.01 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.51 and a beta of -0.06. Biogen Inc. has a fifty-two week low of $157.40 and a fifty-two week high of $268.30. The stock has a fifty day moving average of $185.16 and a 200-day moving average of $206.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $4.36 earnings per share. Equities research analysts anticipate that Biogen Inc. will post 16.42 earnings per share for the current 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.