Gulf International Bank UK Ltd Has $1.73 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Gulf International Bank UK Ltd lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,323 shares of the biotechnology company’s stock after selling 115 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Biogen were worth $1,731,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Grandfield & Dodd LLC raised its stake in Biogen by 5.2% in the 3rd quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 62 shares in the last quarter. Quintet Private Bank Europe S.A. raised its stake in Biogen by 9.7% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock worth $138,000 after purchasing an additional 63 shares in the last quarter. Quent Capital LLC raised its stake in Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 72 shares in the last quarter. TD Private Client Wealth LLC raised its stake in Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 77 shares in the last quarter. Finally, Principal Securities Inc. raised its stake in Biogen by 30.1% in the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analysts Set New Price Targets

BIIB has been the subject of several analyst reports. Scotiabank dropped their price objective on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Piper Sandler reiterated a “neutral” rating and issued a $135.00 price objective (down previously from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Bank Of America (Bofa) decreased their target price on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Finally, Robert W. Baird raised their target price on shares of Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $213.33.

Biogen Stock Up 0.4 %

NASDAQ:BIIB opened at $140.50 on Friday. The firm’s 50 day simple moving average is $144.43 and its 200 day simple moving average is $168.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The company has a market cap of $20.57 billion, a PE ratio of 12.56, a P/E/G ratio of 1.51 and a beta of -0.08.

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, topping 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%. On average, research analysts anticipate that Biogen Inc. will post 15.83 earnings per share 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.