Zurcher Kantonalbank Zurich Cantonalbank Has $22.04 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 107.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 144,152 shares of the biotechnology company’s stock after purchasing an additional 74,503 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.10% of Biogen worth $22,044,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of BIIB. Pacer Advisors Inc. raised its position in Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after purchasing an additional 2,648,024 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Biogen by 977.9% during the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock worth $163,083,000 after acquiring an additional 967,523 shares during the last quarter. Amundi lifted its stake in shares of Biogen by 35.6% in the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after acquiring an additional 319,478 shares during the period. Mizuho Securities USA LLC boosted its holdings in Biogen by 2,715.9% in the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after acquiring an additional 304,778 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in Biogen in the third quarter valued at approximately $55,826,000. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 4.7 %

Shares of Biogen stock opened at $143.66 on Wednesday. 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 fifty day simple moving average of $143.80 and a 200 day simple moving average of $165.37. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The company has a market capitalization of $21.03 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, sell-side analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of recent analyst reports. Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and dropped their price target for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Canaccord Genuity Group lowered their target price on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus cut shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research report on Monday, December 16th. The Goldman Sachs Group lowered their price objective on Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Piper Sandler restated a “neutral” rating and set a $135.00 target price (down previously from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Seventeen research 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, Biogen presently has an average rating of “Hold” and an average price target of $213.33.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

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.