KBC Group NV Has $5.12 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

KBC Group NV boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,490 shares of the biotechnology company’s stock after purchasing an additional 261 shares during the period. KBC Group NV’s holdings in Biogen were worth $5,121,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BIIB. Ashton Thomas Securities LLC bought a new stake in shares of Biogen during the 3rd quarter worth $33,000. Venturi Wealth Management LLC raised its stake in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in shares of Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 90 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Biogen by 228.7% in the 4th quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 279 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Biogen during the 3rd quarter valued at approximately $74,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

Biogen stock opened at $146.23 on Friday. The stock has a market capitalization of $21.31 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.64 and a beta of -0.07. Biogen Inc. has a 52-week low of $139.71 and a 52-week high of $251.99. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The stock’s 50 day moving average price is $151.32 and its two-hundred day moving average price is $179.80.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) 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 analyst estimates of $2.43 billion. During the same period in the prior year, the firm earned $4.36 earnings per share. Biogen’s revenue was down 2.5% on a year-over-year basis. On average, equities analysts predict that Biogen Inc. will post 16.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BIIB. BMO Capital Markets lowered shares of Biogen from an “outperform” rating to a “market perform” rating and cut their target price for the company from $230.00 to $164.00 in a research report on Friday, December 20th. Oppenheimer cut their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Bank of America reaffirmed a “neutral” rating and issued a $178.00 target price on shares of Biogen in a report on Tuesday, December 10th. Robert W. Baird lifted their price target on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Finally, William Blair reaffirmed an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Sixteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $228.80.

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.