KBC Group NV Acquires 261 Shares of Biogen Inc. (NASDAQ:BIIB)

KBC Group NV boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,490 shares of the biotechnology company’s stock after acquiring an additional 261 shares during the period. KBC Group NV’s holdings in Biogen were worth $5,121,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after acquiring an additional 248,942 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Biogen by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after purchasing an additional 47,055 shares during the last quarter. RA Capital Management L.P. raised its stake in shares of Biogen by 20.6% in the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after purchasing an additional 202,317 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Biogen by 1.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock valued at $223,438,000 after purchasing an additional 18,905 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Biogen by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after buying an additional 12,319 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $146.23 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen Inc. has a fifty-two week low of $139.71 and a fifty-two week high of $251.99. The stock has a market cap of $21.31 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 1.64 and a beta of -0.07. The stock has a fifty day moving average of $151.32 and a 200-day moving average of $179.80.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the business posted $4.36 earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. Equities research analysts anticipate that Biogen Inc. will post 16.41 earnings per share for the current year.

Analysts Set New Price Targets

BIIB has been the topic of several recent analyst reports. Raymond James restated a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and dropped their price target for the company from $250.00 to $180.00 in a research report on Monday, December 9th. Truist Financial reduced their price objective on shares of Biogen from $302.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Robert W. Baird lifted 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. Finally, BMO Capital Markets lowered Biogen from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $230.00 to $164.00 in a report on Friday, December 20th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Biogen has a consensus rating of “Hold” and an average price target of $228.80.

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.