Biogen Inc. $BIIB Stock Bought by Candriam S.C.A.

Candriam S.C.A. boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 7.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 412,472 shares of the biotechnology company’s stock after purchasing an additional 28,146 shares during the quarter. Candriam S.C.A.’s holdings in Biogen were worth $93,510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Biogen in the 2nd quarter worth $3,453,878,000. Primecap Management Co. CA purchased a new position in shares of Biogen during the second quarter valued at $3,274,304,000. Legal & General Group Plc purchased a new position in shares of Biogen during the second quarter valued at $322,640,000. Pictet Asset Management Holding SA increased its stake in shares of Biogen by 139.4% during the third quarter. Pictet Asset Management Holding SA now owns 2,039,056 shares of the biotechnology company’s stock valued at $460,582,000 after buying an additional 1,187,237 shares during the period. Finally, Bank of America Corp DE bought a new stake in shares of Biogen in the second quarter valued at about $241,172,000. 87.93% of the stock is owned by institutional investors.

Biogen Stock Up 1.8%

Shares of NASDAQ BIIB opened at $248.35 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.37 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $36.71 billion, a PE ratio of 106.13, a price-to-earnings-growth ratio of 2.82 and a beta of 0.10. The stock’s fifty day simple moving average is $230.01 and its two-hundred day simple moving average is $203.04. Biogen Inc. has a 12-month low of $151.83 and a 12-month high of $258.78.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 28th. The biotechnology company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.63. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.63 billion. Biogen had a return on equity of 9.38% and a net margin of 3.37%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business posted $4.81 EPS. As a group, analysts expect that Biogen Inc. will post 12.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on BIIB shares. JPMorgan Chase & Co. upgraded Biogen from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $210.00 to $300.00 in a report on Monday, October 12th. Bank of America increased their target price on shares of Biogen from $219.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, October 22nd. Wall Street Zen raised shares of Biogen from a “hold” rating to a “strong-buy” rating in a research report on Saturday, October 31st. Oppenheimer restated an “outperform” rating and issued a $300.00 price target on shares of Biogen in a report on Wednesday, July 29th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $220.00 price target on shares of Biogen in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $252.34.

Biogen Company Profile

Biogen is a biotechnology company focused on developing and commercializing medicines for neurological and rare diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy and Friedreich’s ataxia.

Its products include multiple sclerosis treatments such as Tysabri, Tecfidera and Vumerity, and Skyclarys for Friedreich’s ataxia. Biogen shares rights to several medicines with other companies, including Leqembi for Alzheimer’s disease with Eisai and Spinraza for spinal muscular atrophy with Ionis Pharmaceuticals.

Founded in 1978, Biogen is headquartered in Cambridge, Massachusetts, and serves patients and healthcare providers in the United States and international markets.