Pensionfund DSM Netherlands lifted its position in Biogen Inc. (NASDAQ:BIIB) by 7.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,000 shares of the biotechnology company’s stock after buying an additional 800 shares during the period. Pensionfund DSM Netherlands’ holdings in Biogen were worth $3,357,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. Primecap Management Co. CA lifted its position in Biogen by 0.8% during the fourth quarter. Primecap Management Co. CA now owns 15,822,066 shares of the biotechnology company’s stock valued at $3,874,191,000 after purchasing an additional 125,362 shares during the last quarter. Norges Bank acquired a new stake in Biogen in the 4th quarter worth approximately $466,128,000. Price T Rowe Associates Inc. MD boosted its stake in Biogen by 23.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,687,298 shares of the biotechnology company’s stock worth $413,152,000 after purchasing an additional 316,017 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Biogen by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,116,551 shares of the biotechnology company’s stock worth $273,380,000 after purchasing an additional 38,870 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Biogen by 12.1% during the 4th quarter. Morgan Stanley now owns 777,503 shares of the biotechnology company’s stock valued at $190,380,000 after acquiring an additional 84,106 shares during the period. Institutional investors own 83.51% of the company’s stock.
Several equities analysts recently issued reports on BIIB shares. Cantor Fitzgerald decreased their target price on shares of Biogen from $278.00 to $268.00 and set a “neutral” rating for the company in a research note on Wednesday, February 17th. Stifel Nicolaus raised shares of Biogen from a “hold” rating to a “buy” rating and upped their target price for the stock from $258.00 to $358.00 in a report on Friday, January 29th. Credit Suisse Group lowered their price target on shares of Biogen from $388.00 to $350.00 and set an “outperform” rating on the stock in a research report on Thursday, February 4th. Morgan Stanley lowered their price target on shares of Biogen from $352.00 to $351.00 and set an “overweight” rating on the stock in a research report on Thursday, February 4th. Finally, HC Wainwright upped their target price on shares of Biogen from $289.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, February 4th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $303.55.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, February 2nd. The biotechnology company reported $4.58 EPS for the quarter, missing analysts’ consensus estimates of $4.87 by ($0.29). The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.80 billion. Biogen had a net margin of 35.63% and a return on equity of 51.00%. The business’s revenue for the quarter was down 22.3% on a year-over-year basis. During the same quarter last year, the firm earned $8.34 earnings per share. As a group, equities research analysts expect that Biogen Inc. will post 33.63 earnings per share for the current year.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.
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