Biogen Inc. $BIIB Stock Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 1,524.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,175,055 shares of the biotechnology company’s stock after buying an additional 2,041,161 shares during the quarter. Biogen accounts for about 0.4% of Russell Investments Group Ltd.’s investment portfolio, making the stock its 26th largest position. Russell Investments Group Ltd.’s holdings in Biogen were worth $491,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Bell Investment Advisors Inc acquired a new position in Biogen during the second quarter worth $27,000. Align Financial LLC lifted its holdings in shares of Biogen by 339.3% during the third quarter. Align Financial LLC now owns 123 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 95 shares during the period. Provenance Wealth Advisors LLC bought a new position in shares of Biogen during the third quarter valued at $29,000. Canton Hathaway LLC acquired a new stake in shares of Biogen in the 3rd quarter valued at $31,000. Finally, Ashurst Perkins Coie Trust Co boosted its stake in shares of Biogen by 92.2% in the 3rd quarter. Ashurst Perkins Coie Trust Co now owns 173 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 83 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on BIIB. Bank of America upped their target price on shares of Biogen from $219.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, October 22nd. JPMorgan Chase & Co. raised shares of Biogen from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $210.00 to $300.00 in a report on Monday, October 12th. TD Cowen lifted their price target on shares of Biogen from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Mizuho boosted their price target on shares of Biogen from $221.00 to $241.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $220.00 price objective on shares of Biogen in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Biogen presently has an average rating of “Moderate Buy” and an average target price of $254.41.

Biogen Trading Down 1.2%

Shares of BIIB opened at $250.48 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.95 and a debt-to-equity ratio of 0.39. Biogen Inc. has a 12-month low of $160.36 and a 12-month high of $261.00. The firm has a market capitalization of $37.03 billion, a PE ratio of 107.04, a price-to-earnings-growth ratio of 2.87 and a beta of 0.10. The stock’s fifty day simple moving average is $232.77 and its 200-day simple moving average is $204.64.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 28th. The biotechnology company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.63. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Biogen had a return on equity of 9.38% and a net margin of 3.37%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $4.81 earnings per share. As a group, research analysts predict that Biogen Inc. will post 12.46 earnings per share for the current year.

Biogen Company Profile

Biogen is a biotechnology company focused on developing and commercializing medicines for neurological and rare diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy and Friedreich’s ataxia. Its products include multiple sclerosis treatments such as Tysabri, Tecfidera and Vumerity, and Skyclarys for Friedreich’s ataxia. Biogen shares rights to several medicines with other companies, including Leqembi for Alzheimer’s disease with Eisai and Spinraza for spinal muscular atrophy with Ionis Pharmaceuticals.