Itau Unibanco Holding S.A. Has $45,000 Stock Position in Biogen Inc. (NASDAQ:BIIB)

Itau Unibanco Holding S.A. lifted its holdings in Biogen Inc. (NASDAQ:BIIB) by 63.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 231 shares of the biotechnology company’s stock after acquiring an additional 90 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Biogen were worth $45,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Cetera Investment Advisers increased its holdings in shares of Biogen by 235.1% during the first quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after purchasing an additional 10,425 shares during the period. Cetera Advisors LLC increased its stake in Biogen by 120.6% during the 1st quarter. Cetera Advisors LLC now owns 3,175 shares of the biotechnology company’s stock worth $685,000 after acquiring an additional 1,736 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in Biogen by 48.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 494 shares of the biotechnology company’s stock valued at $115,000 after acquiring an additional 161 shares in the last quarter. Mather Group LLC. lifted its position in shares of Biogen by 17.4% during the 2nd quarter. Mather Group LLC. now owns 1,223 shares of the biotechnology company’s stock valued at $264,000 after acquiring an additional 181 shares during the period. Finally, Park Avenue Securities LLC grew its holdings in shares of Biogen by 8.3% during the 2nd quarter. Park Avenue Securities LLC now owns 2,529 shares of the biotechnology company’s stock worth $586,000 after purchasing an additional 193 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com raised Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Wedbush dropped their target price on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. JPMorgan Chase & Co. reduced their price target on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Wolfe Research started coverage on shares of Biogen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, HC Wainwright restated a “buy” rating and set a $300.00 target price on shares of Biogen in a research note on Thursday, October 31st. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $257.20.

Biogen Stock Performance

NASDAQ BIIB opened at $160.85 on Wednesday. The company has a market capitalization of $23.44 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.55 and a beta of -0.08. Biogen Inc. has a twelve month low of $153.62 and a twelve month high of $268.30. The stock has a fifty day simple moving average of $176.56 and a 200 day simple moving average of $201.80. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company earned $4.36 earnings per share. Sell-side analysts expect that Biogen Inc. will post 16.45 EPS for the current year.

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.