Biogen Inc. $BIIB Position Lifted by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 179.3% during the third quarter, Holdings Channel reports. The firm owned 286,567 shares of the biotechnology company’s stock after buying an additional 183,973 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Biogen were worth $64,730,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Biogen in the 2nd quarter worth approximately $3,453,878,000. Primecap Management Co. CA bought a new position in shares of Biogen during the 2nd quarter worth approximately $3,274,304,000. Wellington Management Group LLP lifted its position in shares of Biogen by 5.3% during the 2nd quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company’s stock worth $673,560,000 after buying an additional 155,828 shares during the period. Pictet Asset Management Holding SA boosted its stake in Biogen by 139.4% in the 3rd quarter. Pictet Asset Management Holding SA now owns 2,039,056 shares of the biotechnology company’s stock valued at $460,582,000 after buying an additional 1,187,237 shares in the last quarter. Finally, Amundi boosted its stake in Biogen by 91.8% in the 2nd quarter. Amundi now owns 1,516,831 shares of the biotechnology company’s stock valued at $327,727,000 after buying an additional 726,004 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on BIIB. BMO Capital Markets reiterated a “market perform” rating and issued a $220.00 price target on shares of Biogen in a research report on Monday, October 12th. Seaport Research Partners raised Biogen to an “outperform” rating in a report on Monday, October 12th. Barclays boosted their target price on shares of Biogen from $200.00 to $230.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 28th. 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. Finally, Wall Street Zen raised shares of Biogen from a “hold” rating to a “strong-buy” rating in a report on Saturday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Biogen presently has an average rating of “Moderate Buy” and an average price target of $254.41.

Biogen Trading Down 1.2%

BIIB opened at $250.48 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.37 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $37.03 billion, a PE ratio of 107.04, a PEG ratio of 2.87 and a beta of 0.10. The firm has a 50-day moving average price of $232.77 and a two-hundred day moving average price of $204.64. Biogen Inc. has a 1-year low of $160.36 and a 1-year high of $261.00.

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

Biogen 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.