Oddo BHF Asset Management Sas Buys Shares of 7,136 Biogen Inc. (NASDAQ:BIIB)

Oddo BHF Asset Management Sas purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,136 shares of the biotechnology company’s stock, valued at approximately $1,383,000.

Several other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in Biogen during the 2nd quarter valued at about $33,000. Ashton Thomas Securities LLC bought a new position in Biogen in the third quarter worth approximately $33,000. Blue Trust Inc. boosted its position in Biogen by 249.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 127 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 49 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Down 3.4 %

Shares of NASDAQ BIIB opened at $150.03 on Friday. Biogen Inc. has a 52-week low of $149.93 and a 52-week high of $268.30. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The company’s 50-day simple moving average is $171.21 and its 200-day simple moving average is $198.41. The firm has a market cap of $21.86 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.83 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.36 EPS. Equities analysts predict that Biogen Inc. will post 16.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of recent research reports. Robert W. Baird boosted their target price on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $292.00 target price on shares of Biogen in a research report on Monday, September 9th. Barclays lowered their target price on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Citigroup initiated coverage on Biogen in a report on Thursday, November 14th. They set a “neutral” rating and a $190.00 price objective for the company. Finally, Bank of America restated a “neutral” rating and set a $178.00 price target on shares of Biogen in a research note on Tuesday. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Biogen presently has a consensus rating of “Moderate Buy” and an average price target of $249.80.

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.