DekaBank Deutsche Girozentrale Decreases Stake in Biogen Inc. (NASDAQ:BIIB)

DekaBank Deutsche Girozentrale reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 61.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,198 shares of the biotechnology company’s stock after selling 174,070 shares during the period. DekaBank Deutsche Girozentrale owned about 0.07% of Biogen worth $23,485,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Livelsberger Financial Advisory purchased a new position in shares of Biogen during the fourth quarter valued at approximately $26,000. Plato Investment Management Ltd increased its stake in shares of Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 53 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of Biogen by 76.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 51 shares during the period. Rise Advisors LLC purchased a new position in shares of Biogen during the first quarter valued at approximately $27,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Biogen during the first quarter valued at approximately $36,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BIIB. UBS Group reduced their target price on Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Piper Sandler dropped their price target on Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Wedbush dropped their price target on Biogen from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Friday. Needham & Company LLC restated a “buy” rating and set a $288.00 price target on shares of Biogen in a research report on Thursday. Finally, HC Wainwright restated a “buy” rating and set a $300.00 price target on shares of Biogen in a research report on Thursday, May 23rd. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.08.

Biogen Stock Performance

Shares of NASDAQ:BIIB traded down $5.04 during midday trading on Friday, reaching $205.66. 1,768,714 shares of the company’s stock traded hands, compared to its average volume of 1,081,031. The company has a market cap of $29.94 billion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 2.09 and a beta of -0.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.32 and a current ratio of 2.29. Biogen Inc. has a one year low of $189.44 and a one year high of $278.95. The stock has a 50 day moving average of $225.01 and a 200 day moving average of $222.97.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. Biogen’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.02 earnings per share. As a group, equities research analysts anticipate that Biogen Inc. will post 15.87 EPS for the current fiscal year.

About Biogen

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.