Amundi Increases Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Amundi boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 35.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,216,990 shares of the biotechnology company’s stock after buying an additional 319,478 shares during the period. Amundi’s holdings in Biogen were worth $183,461,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Inspire Trust Co. N.A. raised its stake in shares of Biogen by 58.5% in the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after acquiring an additional 4,025 shares during the period. Assenagon Asset Management S.A. grew its holdings in Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after purchasing an additional 111 shares during the last quarter. Centre Asset Management LLC grew its holdings in Biogen by 7.7% during the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after purchasing an additional 3,698 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Biogen by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after purchasing an additional 12,319 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Biogen by 3.2% in the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock worth $32,687,000 after purchasing an additional 5,270 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Performance

BIIB opened at $150.38 on Monday. The company has a market cap of $22.01 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average price is $143.98 and its 200-day moving average price is $166.18. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BIIB has been the topic of a number of analyst reports. Royal Bank of Canada cut their target price on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and cut their price objective for the company from $250.00 to $180.00 in a research report on Monday, December 9th. HC Wainwright decreased their target price on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Mizuho lowered their target price on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $135.00 price target (down previously from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $213.33.

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.