Cibc World Markets Corp Raises Stock Position in Biogen Inc. (NASDAQ:BIIB)

Cibc World Markets Corp increased its stake in Biogen Inc. (NASDAQ:BIIBFree Report) by 60.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,452 shares of the biotechnology company’s stock after purchasing an additional 14,799 shares during the period. Cibc World Markets Corp’s holdings in Biogen were worth $10,209,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of BIIB. Quantbot Technologies LP acquired a new stake in Biogen in the 3rd quarter worth approximately $178,000. Moors & Cabot Inc. acquired a new stake in Biogen in the 3rd quarter worth approximately $208,000. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Biogen in the 3rd quarter worth approximately $1,853,000. Massachusetts Financial Services Co. MA boosted its stake in Biogen by 204.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 446,602 shares of the biotechnology company’s stock worth $114,781,000 after purchasing an additional 300,086 shares in the last quarter. Finally, NewEdge Wealth LLC boosted its stake in Biogen by 3.7% in the 3rd quarter. NewEdge Wealth LLC now owns 1,402 shares of the biotechnology company’s stock worth $360,000 after purchasing an additional 50 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BIIB. Barclays decreased their price objective on shares of Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Robert W. Baird decreased their price objective on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Bank Of America (Bofa) decreased their price objective on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Monday, February 12th. Piper Sandler decreased their price objective on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Finally, StockNews.com cut shares of Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Biogen has an average rating of “Moderate Buy” and a consensus target price of $286.50.

View Our Latest Report on Biogen

Biogen Price Performance

NASDAQ BIIB traded down $4.73 on Thursday, hitting $231.99. The company had a trading volume of 887,225 shares, compared to its average volume of 1,170,270. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $319.76. The company has a market capitalization of $33.78 billion, a PE ratio of 28.96, a PEG ratio of 2.36 and a beta of -0.02. The company’s fifty day moving average price is $214.34 and its 200-day moving average price is $229.39. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32.

Biogen (NASDAQ:BIIBGet Free Report) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the firm earned $3.40 earnings per share. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, analysts predict that Biogen Inc. will post 15.61 earnings per share for the current year.

About Biogen

(Free Report)

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.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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