UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 18,905 Shares of Biogen Inc. (NASDAQ:BIIB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 1.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,152,691 shares of the biotechnology company’s stock after buying an additional 18,905 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.79% of Biogen worth $223,438,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in Biogen by 19,722.9% in 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 acquiring an additional 357,181 shares during the last quarter. Mizuho Securities USA LLC increased its stake in shares of Biogen by 2,715.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after purchasing an additional 304,778 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Biogen by 29.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 711,184 shares of the biotechnology company’s stock worth $137,856,000 after buying an additional 162,511 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Biogen by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock worth $3,787,543,000 after buying an additional 117,578 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in Biogen in the second quarter valued at about $22,867,000. 87.93% of the stock is owned by institutional investors.

Biogen Price Performance

Biogen stock opened at $160.63 on Friday. The stock’s 50 day moving average price is $177.86 and its two-hundred day moving average price is $203.15. The stock has a market capitalization of $23.41 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.51 and a beta of -0.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen Inc. has a 52-week low of $153.62 and a 52-week high of $268.30.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the company posted $4.36 earnings per share. The business’s quarterly revenue was down 2.5% on a year-over-year basis. On average, equities analysts predict that Biogen Inc. will post 16.44 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on BIIB shares. Scotiabank lowered their target price on Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. Citigroup started coverage on shares of Biogen in a research note on Thursday, November 14th. They issued a “neutral” rating and a $190.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $300.00 target price on shares of Biogen in a research report on Thursday, October 31st. TD Cowen lowered their price target on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Mizuho cut their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.20.

Insider Activity

In related news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This trade represents a 7.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

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.