Lombard Odier Asset Management Switzerland SA Takes Position in Biogen Inc. $BIIB

Lombard Odier Asset Management Switzerland SA bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,899 shares of the biotechnology company’s stock, valued at approximately $715,000.

Several other institutional investors and hedge funds have also made changes to their positions in BIIB. Vanguard Group Inc. increased its stake in Biogen by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 17,447,092 shares of the biotechnology company’s stock worth $3,070,514,000 after buying an additional 157,857 shares during the period. Geode Capital Management LLC grew its stake in shares of Biogen by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company’s stock valued at $736,435,000 after acquiring an additional 130,618 shares in the last quarter. Norges Bank acquired a new stake in shares of Biogen during the fourth quarter valued at about $464,408,000. Invesco Ltd. increased its position in shares of Biogen by 4.2% during the third quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company’s stock worth $338,731,000 after acquiring an additional 98,001 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of Biogen by 3.3% in the fourth quarter. Morgan Stanley now owns 2,325,013 shares of the biotechnology company’s stock worth $409,180,000 after acquiring an additional 73,478 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Performance

Shares of BIIB stock opened at $205.61 on Wednesday. The stock has a market capitalization of $30.36 billion, a price-to-earnings ratio of 22.06 and a beta of 0.16. Biogen Inc. has a one year low of $124.56 and a one year high of $219.72. The company’s 50-day simple moving average is $200.25 and its 200-day simple moving average is $190.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 3.06.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.62. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the company earned $3.02 earnings per share. Biogen’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts anticipate that Biogen Inc. will post 11.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citigroup increased their price target on Biogen from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Argus raised Biogen to a “hold” rating in a research report on Thursday, April 9th. Canaccord Genuity Group increased their target price on Biogen from $230.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Bank of America decreased their price target on shares of Biogen from $217.00 to $215.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Finally, Truist Financial upgraded shares of Biogen from a “hold” rating to a “buy” rating and lifted their price target for the stock from $190.00 to $235.00 in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.57.

Biogen Company Profile

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.