Assenagon Asset Management S.A. Acquires 612 Shares of Biogen Inc. (NASDAQ:BIIB)

Assenagon Asset Management S.A. boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 43,349 shares of the biotechnology company’s stock after purchasing an additional 612 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Biogen were worth $8,403,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its holdings in shares of Biogen by 19,722.9% during the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after purchasing an additional 357,181 shares during the period. Private Advisor Group LLC increased its position in Biogen by 10.6% in the 3rd quarter. Private Advisor Group LLC now owns 9,645 shares of the biotechnology company’s stock valued at $1,870,000 after buying an additional 924 shares in the last quarter. Eastern Bank acquired a new position in Biogen during the 3rd quarter worth approximately $179,000. Arlington Partners LLC boosted its holdings in Biogen by 34.3% in the third quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock worth $3,724,000 after acquiring an additional 4,902 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in Biogen by 3.4% in the third quarter. Raymond James & Associates now owns 192,065 shares of the biotechnology company’s stock worth $37,230,000 after acquiring an additional 6,384 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

NASDAQ BIIB opened at $185.01 on Tuesday. The company has a market capitalization of $26.94 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 1.87 and a beta of -0.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. Biogen Inc. has a 52-week low of $181.24 and a 52-week high of $268.30. The company has a 50-day simple moving average of $194.86 and a 200 day simple moving average of $210.08.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $1.28. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. During the same quarter last year, the business posted $4.02 EPS. Biogen’s quarterly revenue was up .4% compared to the same quarter last year. On average, research analysts predict that Biogen Inc. will post 16.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. UBS Group lowered their target price on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $292.00 price objective on shares of Biogen in a research note on Monday, September 9th. Barclays decreased their target price on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Piper Sandler dropped their price target on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Mizuho decreased their price objective on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $271.39.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now owns 5,316 shares of the company’s stock, valued at $1,085,633.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.

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.