Citizens Financial Group Inc. RI Purchases Shares of 1,033 Biogen Inc. (NASDAQ:BIIB)

Citizens Financial Group Inc. RI purchased a new stake in Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,033 shares of the biotechnology company’s stock, valued at approximately $239,000.

A number of other large investors have also recently bought and sold shares of BIIB. Vanguard Group Inc. grew its position in Biogen by 18.2% in the fourth quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock valued at $3,728,185,000 after acquiring an additional 2,218,744 shares during the period. FIL Ltd grew its holdings in shares of Biogen by 936.4% during the fourth quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock worth $169,883,000 after purchasing an additional 593,158 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Biogen by 141.0% during the fourth quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock worth $252,898,000 after purchasing an additional 571,795 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Biogen by 22.2% during the first quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock worth $374,623,000 after purchasing an additional 316,144 shares during the last quarter. Finally, Primecap Management Co. CA grew its holdings in shares of Biogen by 1.6% during the fourth quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock worth $4,208,760,000 after purchasing an additional 251,915 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Up 1.9 %

NASDAQ:BIIB opened at $201.44 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. The company has a market cap of $29.33 billion, a PE ratio of 25.15, a PEG ratio of 2.01 and a beta of -0.06. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $269.43. The stock has a 50-day simple moving average of $207.92 and a 200 day simple moving average of $215.17.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. Biogen’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the company earned $4.02 earnings per share. On average, sell-side analysts expect that Biogen Inc. will post 16.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on BIIB shares. Needham & Company LLC restated a “buy” rating and set a $285.00 target price on shares of Biogen in a report on Wednesday, September 4th. Piper Sandler cut their price target on Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Truist Financial reaffirmed a “buy” rating and set a $302.00 price target (down previously from $340.00) on shares of Biogen in a research note on Monday, August 5th. Mizuho cut their price target on Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Finally, Wedbush cut their price target on Biogen from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Biogen has an average rating of “Moderate Buy” and an average target price of $275.52.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the transaction, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

About Biogen

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.