Generali Investments CEE investicni spolecnost a.s. Buys New Stake in Biogen Inc. (NASDAQ:BIIB)

Generali Investments CEE investicni spolecnost a.s. bought a new stake in Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 27,060 shares of the biotechnology company’s stock, valued at approximately $4,138,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Banco Santander S.A. purchased a new position in Biogen in the 4th quarter valued at approximately $7,311,000. Machina Capital S.A.S. boosted its position in Biogen by 9.0% in the 4th quarter. Machina Capital S.A.S. now owns 5,605 shares of the biotechnology company’s stock valued at $857,000 after buying an additional 461 shares during the period. Andra AP fonden boosted its position in Biogen by 26.2% in the 4th quarter. Andra AP fonden now owns 33,700 shares of the biotechnology company’s stock valued at $5,153,000 after buying an additional 7,000 shares during the period. Edgestream Partners L.P. boosted its position in Biogen by 79.5% in the 4th quarter. Edgestream Partners L.P. now owns 20,135 shares of the biotechnology company’s stock valued at $3,079,000 after buying an additional 8,917 shares during the period. Finally, E Fund Management Co. Ltd. boosted its position in Biogen by 26.9% in the 4th quarter. E Fund Management Co. Ltd. now owns 10,227 shares of the biotechnology company’s stock valued at $1,564,000 after buying an additional 2,166 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Up 2.0 %

Biogen stock opened at $150.38 on Friday. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The stock has a 50 day moving average of $143.98 and a two-hundred day moving average of $166.73. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $22.01 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.51 and a beta of -0.08.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on BIIB shares. Mizuho decreased their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Piper Sandler reaffirmed a “neutral” rating and set a $135.00 price objective (down from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Wells Fargo & Company decreased their price objective on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Scotiabank decreased 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 report on Thursday, February 13th. Finally, Citigroup decreased their price objective on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $213.33.

Biogen 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.