International Assets Investment Management LLC Buys 357,181 Shares of Biogen Inc. (NASDAQ:BIIB)

International Assets Investment Management LLC grew its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 19,722.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 358,992 shares of the biotechnology company’s stock after acquiring an additional 357,181 shares during the period. International Assets Investment Management LLC’s holdings in Biogen were worth $695,870,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Plato Investment Management Ltd grew its stake in shares of Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 53 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Biogen in the second quarter worth $33,000. EntryPoint Capital LLC bought a new stake in shares of Biogen in the first quarter worth $36,000. Versant Capital Management Inc grew its stake in shares of Biogen by 123.2% in the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 85 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Biogen by 249.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $182.98 on Thursday. Biogen Inc. has a fifty-two week low of $181.31 and a fifty-two week high of $268.30. The stock has a market cap of $26.64 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.87 and a beta of -0.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. The firm’s 50-day simple moving average is $196.04 and its 200 day simple moving average is $210.47.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the firm earned $4.02 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, research analysts anticipate that Biogen Inc. will post 16.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. UBS Group reduced their price objective on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Truist Financial reissued a “buy” rating and issued a $302.00 price objective (down previously from $340.00) on shares of Biogen in a research note on Monday, August 5th. Robert W. Baird cut their price target on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Wedbush cut their price target on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. Finally, Royal Bank of Canada cut their price target on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $271.39.

Biogen Company 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.