B. Metzler seel. Sohn & Co. Holding AG Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,361 shares of the biotechnology company’s stock, valued at approximately $1,427,000.

Several other hedge funds have also modified their holdings of the stock. Plato Investment Management Ltd boosted its holdings 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 buying an additional 53 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in Biogen during the 2nd quarter valued at $33,000. Versant Capital Management Inc raised its position in Biogen by 123.2% during the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 85 shares during the period. EntryPoint Capital LLC purchased a new stake in Biogen in the 1st quarter worth about $36,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Biogen during the third quarter worth approximately $33,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $157.90 on Friday. The firm has a market capitalization of $23.01 billion, a PE ratio of 14.26, a PEG ratio of 1.47 and a beta of -0.06. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $181.85 and its 200-day moving average is $205.32. Biogen Inc. has a 1-year low of $153.62 and a 1-year high of $268.30.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the company earned $4.36 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Sell-side analysts predict that Biogen Inc. will post 16.45 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares of the company’s stock, valued at $1,085,633.52. This trade represents a 7.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BIIB has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Wolfe Research began coverage on Biogen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Robert W. Baird boosted their target price on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. HC Wainwright restated a “buy” rating and set a $300.00 price target on shares of Biogen in a report on Thursday, October 31st. Finally, Barclays cut their target price on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $257.20.

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.