Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Neuberger Berman Group LLC

Neuberger Berman Group LLC lifted its holdings in Biogen Inc. (NASDAQ:BIIB) by 100.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,890 shares of the biotechnology company’s stock after purchasing an additional 3,448 shares during the period. Neuberger Berman Group LLC’s holdings in Biogen were worth $943,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Biogen by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company’s stock valued at $2,330,774,000 after purchasing an additional 283,964 shares in the last quarter. Invesco Ltd. increased its stake in shares of Biogen by 6.4% in the 1st quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company’s stock valued at $309,944,000 after purchasing an additional 136,200 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Biogen by 1.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,933,716 shares of the biotechnology company’s stock valued at $295,705,000 after purchasing an additional 21,170 shares in the last quarter. Northern Trust Corp increased its stake in shares of Biogen by 14.6% in the 4th quarter. Northern Trust Corp now owns 1,550,130 shares of the biotechnology company’s stock valued at $237,046,000 after purchasing an additional 196,995 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Biogen by 33.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,533,813 shares of the biotechnology company’s stock valued at $234,551,000 after purchasing an additional 381,122 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Up 2.7%

BIIB opened at $138.60 on Friday. Biogen Inc. has a one year low of $110.04 and a one year high of $207.59. The stock has a market capitalization of $20.32 billion, a PE ratio of 13.25, a P/E/G ratio of 1.06 and a beta of 0.13. The business’s 50 day moving average price is $130.13 and its 200 day moving average price is $131.04. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, beating analysts’ consensus estimates of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the prior year, the firm posted $5.28 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

Insider Buying and Selling

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the company’s stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the transaction, the insider directly owned 6,330 shares in the company, valued at $854,550. This represents a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BIIB shares. Citigroup lifted their price target on Biogen from $125.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Hsbc Global Res lowered Biogen from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. Morgan Stanley cut their price objective on Biogen from $146.00 to $144.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. HSBC lowered Biogen from a “buy” rating to a “hold” rating and set a $118.00 price objective for the company. in a research note on Monday, April 28th. Finally, Truist Financial began coverage on Biogen in a research note on Monday, July 21st. They set a “hold” rating and a $142.00 price objective for the company. Twenty-one research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen currently has a consensus rating of “Hold” and an average target price of $185.74.

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.