J. Safra Sarasin Holding AG Buys 6,707 Shares of Biogen Inc. $BIIB

J. Safra Sarasin Holding AG increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 282.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,081 shares of the biotechnology company’s stock after buying an additional 6,707 shares during the period. J. Safra Sarasin Holding AG’s holdings in Biogen were worth $1,272,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Elevation Point Wealth Partners LLC bought a new stake in shares of Biogen during the second quarter worth approximately $25,000. Rothschild Investment LLC increased its stake in shares of Biogen by 64.7% during the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 88 shares during the period. Concord Wealth Partners lifted its holdings in Biogen by 100.0% during the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 114 shares during the last quarter. True Wealth Design LLC boosted its stake in Biogen by 62.9% in the 3rd quarter. True Wealth Design LLC now owns 233 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Finally, NewSquare Capital LLC grew its holdings in Biogen by 134.6% in the 2nd quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BIIB shares. Wedbush boosted their target price on shares of Biogen from $143.00 to $178.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Guggenheim boosted their price objective on shares of Biogen from $165.00 to $185.00 in a report on Friday, October 31st. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Biogen in a report on Tuesday, January 13th. Rothschild & Co Redburn lifted their price target on shares of Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Finally, Tudor Pickering set a $157.00 price target on Biogen in a research report on Monday, November 3rd. Ten research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $192.04.

Biogen Stock Performance

NASDAQ BIIB opened at $174.83 on Thursday. The company has a current ratio of 2.72, a quick ratio of 2.04 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $25.65 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.45 and a beta of 0.13. The firm’s 50 day simple moving average is $176.22 and its 200 day simple moving average is $154.14. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $190.20.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating the consensus estimate of $3.89 by $0.92. Biogen had a net margin of 15.98% and a return on equity of 14.13%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the business earned $4.08 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. As a group, research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

About Biogen

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.