Natixis Advisors LLC Boosts Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Natixis Advisors LLC raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 58.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,907 shares of the biotechnology company’s stock after purchasing an additional 9,946 shares during the period. Natixis Advisors LLC’s holdings in Biogen were worth $3,682,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Invesco Ltd. lifted its position in shares of Biogen by 30.6% during the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company’s stock valued at $325,537,000 after buying an additional 499,074 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Biogen by 1.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,933,716 shares of the biotechnology company’s stock valued at $295,705,000 after purchasing an additional 21,170 shares during the last quarter. Northern Trust Corp boosted its position in Biogen by 14.6% during the fourth quarter. Northern Trust Corp now owns 1,550,130 shares of the biotechnology company’s stock worth $237,046,000 after purchasing an additional 196,995 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Biogen by 33.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,533,813 shares of the biotechnology company’s stock worth $234,551,000 after purchasing an additional 381,122 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Biogen by 63.7% in the fourth quarter. Deutsche Bank AG now owns 1,169,570 shares of the biotechnology company’s stock valued at $178,851,000 after purchasing an additional 455,285 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Price Performance

Shares of Biogen stock opened at $129.34 on Thursday. The stock has a market capitalization of $18.96 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.05 and a beta of 0.13. The company has a fifty day moving average of $130.06 and a 200-day moving average of $131.64. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $207.59. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the prior year, the business posted $5.28 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. Equities research analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

Insider Transactions at Biogen

In other Biogen news, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total value of $300,105.00. Following the transaction, the insider directly owned 6,330 shares of the company’s stock, valued at $854,550. The trade was a 25.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler reiterated a “neutral” rating and issued a $115.00 price objective on shares of Biogen in a research note on Thursday, June 12th. Mizuho decreased their price objective on Biogen from $207.00 to $169.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Oppenheimer set a $205.00 target price on Biogen in a research note on Friday, May 2nd. Morgan Stanley decreased their price target on Biogen from $146.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. Finally, Robert W. Baird cut their price objective on shares of Biogen from $300.00 to $255.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Twenty-one analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $185.63.

Biogen 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.