Lombard Odier Asset Management Switzerland SA Takes $715,000 Position in Biogen Inc. $BIIB

Lombard Odier Asset Management Switzerland SA acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,899 shares of the biotechnology company’s stock, valued at approximately $715,000.

Several other hedge funds have also modified their holdings of the stock. Waverly Advisors LLC increased its position in Biogen by 12.8% during the first quarter. Waverly Advisors LLC now owns 3,151 shares of the biotechnology company’s stock worth $578,000 after purchasing an additional 358 shares during the last quarter. Morningstar Investment Management LLC increased its holdings in shares of Biogen by 3.0% during the 1st quarter. Morningstar Investment Management LLC now owns 19,344 shares of the biotechnology company’s stock worth $3,546,000 after buying an additional 565 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Biogen by 20.2% during the 1st quarter. Sei Investments Co. now owns 71,513 shares of the biotechnology company’s stock worth $13,112,000 after buying an additional 12,017 shares during the last quarter. First Trust Advisors LP raised its position in shares of Biogen by 19.1% in the 1st quarter. First Trust Advisors LP now owns 673,958 shares of the biotechnology company’s stock worth $123,557,000 after buying an additional 108,111 shares during the period. Finally, ABN Amro Investment Solutions raised its position in shares of Biogen by 23.8% in the 1st quarter. ABN Amro Investment Solutions now owns 5,976 shares of the biotechnology company’s stock worth $1,096,000 after buying an additional 1,150 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on BIIB. Evercore started coverage on Biogen in a research report on Friday, May 15th. They set an “outperform” rating for the company. Weiss Ratings upgraded Biogen from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Oppenheimer lifted their price objective on Biogen from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Morgan Stanley decreased their target price on Biogen from $224.00 to $222.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. Finally, Zacks Research downgraded shares of Biogen from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $220.57.

Biogen Stock Up 2.7%

Shares of NASDAQ BIIB opened at $205.61 on Wednesday. Biogen Inc. has a 12-month low of $124.56 and a 12-month high of $219.72. The company has a market cap of $30.36 billion, a P/E ratio of 22.06 and a beta of 0.16. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. The stock has a fifty day moving average price of $200.25 and a 200 day moving average price of $190.21.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating the consensus estimate of $2.95 by $0.62. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $3.02 earnings per share. Research analysts anticipate that Biogen Inc. will post 11.28 EPS for the current fiscal year.

Biogen Company Profile

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.