Amundi Asset Management US Inc. lowered its holdings in Biogen Inc. (NASDAQ:BIIB) by 1.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 529,457 shares of the biotechnology company’s stock after selling 8,895 shares during the quarter. Amundi Asset Management US Inc.’s holdings in Biogen were worth $148,116,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Prime Capital Investment Advisors LLC bought a new position in Biogen during the 1st quarter valued at $26,000. Coastal Capital Group Inc. bought a new stake in shares of Biogen during the 1st quarter worth $28,000. CVA Family Office LLC bought a new stake in shares of Biogen during the 1st quarter worth $31,000. Sittner & Nelson LLC bought a new stake in shares of Biogen during the 4th quarter worth $28,000. Finally, Logan Capital Management Inc. bought a new stake in shares of Biogen during the 1st quarter worth $32,000. Institutional investors and hedge funds own 83.25% of the company’s stock.
BIIB has been the topic of a number of research reports. upgraded Biogen from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $200.00 to $440.00 in a research note on Tuesday, June 8th. Wedbush lifted their target price on Biogen from $236.00 to $245.00 and gave the company a “neutral” rating in a report on Monday, April 12th. HC Wainwright boosted their price objective on Biogen from $305.00 to $452.00 and gave the stock a “buy” rating in a report on Tuesday, June 8th. The Goldman Sachs Group boosted their price objective on Biogen from $246.00 to $436.00 and gave the stock a “neutral” rating in a report on Monday, June 14th. Finally, Jefferies Financial Group boosted their price objective on Biogen from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Tuesday, June 8th. Fourteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $385.10.
Shares of Biogen stock opened at $322.96 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.75 and a current ratio of 2.12. The company has a market capitalization of $48.62 billion, a P/E ratio of 16.94, a PEG ratio of 1.59 and a beta of 0.44. The company’s 50 day simple moving average is $333.47. Biogen Inc. has a 52 week low of $223.25 and a 52 week high of $468.55.
Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, July 22nd. The biotechnology company reported $5.68 EPS for the quarter, beating analysts’ consensus estimates of $4.55 by $1.13. The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.61 billion. Biogen had a return on equity of 42.04% and a net margin of 23.89%. The firm’s revenue for the quarter was down 24.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.26 earnings per share. On average, equities analysts predict that Biogen Inc. will post 18.61 EPS for the current year.
Biogen Company Profile
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.
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