Raiffeisen Bank International AG Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

Raiffeisen Bank International AG acquired a new stake in Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,571 shares of the biotechnology company’s stock, valued at approximately $236,000.

A number of other hedge funds also recently made changes to their positions in BIIB. Larson Financial Group LLC raised its stake in Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 141 shares during the period. Lee Danner & Bass Inc. bought a new position in Biogen during the fourth quarter worth $25,000. Colonial Trust Co SC increased its holdings in shares of Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 186 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Biogen in the fourth quarter valued at about $32,000. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of Biogen during the 4th quarter worth about $33,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This represents a 43.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on BIIB. Piper Sandler reduced their target price on shares of Biogen from $135.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Robert W. Baird reduced their price objective on Biogen from $300.00 to $255.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Citigroup decreased their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Morgan Stanley reduced their price target on Biogen from $157.00 to $152.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Finally, Canaccord Genuity Group decreased their price objective on Biogen from $265.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Biogen has an average rating of “Hold” and a consensus target price of $191.30.

Biogen Stock Performance

NASDAQ:BIIB opened at $125.59 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $18.40 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $238.00. The stock’s 50-day simple moving average is $125.96 and its 200 day simple moving average is $142.09.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a net margin of 16.87% and a return on equity of 14.98%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $3.67 earnings per share. On average, analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.