Mediolanum International Funds Ltd Takes $6.55 Million Position in Biogen Inc. (NASDAQ:BIIB)

Mediolanum International Funds Ltd purchased a new stake in Biogen Inc. (NASDAQ:BIIBFree Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 30,278 shares of the biotechnology company’s stock, valued at approximately $6,550,000.

Other large investors also recently modified their holdings of the company. Livelsberger Financial Advisory bought a new position in shares of Biogen in the 4th quarter valued at $26,000. Gladius Capital Management LP bought a new position in shares of Biogen in the 3rd quarter valued at $28,000. Hexagon Capital Partners LLC lifted its stake in shares of Biogen by 76.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 51 shares during the last quarter. Rise Advisors LLC bought a new position in shares of Biogen in the 1st quarter valued at $27,000. Finally, CVA Family Office LLC bought a new position in shares of Biogen in the 4th quarter valued at $36,000. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BIIB shares. Barclays decreased their price objective on Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Truist Financial restated a “buy” rating and issued a $340.00 price objective on shares of Biogen in a report on Thursday, May 16th. William Blair restated an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Wedbush increased their price objective on Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $294.00 price objective on shares of Biogen in a report on Friday, June 28th. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Biogen has an average rating of “Moderate Buy” and an average price target of $286.50.

Check Out Our Latest Report on BIIB

Biogen Stock Up 1.6 %

Shares of BIIB stock traded up $3.69 on Wednesday, reaching $232.75. 522,564 shares of the company were exchanged, compared to its average volume of 1,136,300. The company has a market cap of $33.89 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 2.30 and a beta of -0.04. The company has a 50-day moving average of $225.45 and a 200-day moving average of $227.14. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32. Biogen Inc. has a one year low of $189.44 and a one year high of $281.68.

Biogen (NASDAQ:BIIBGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The business’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.40 EPS. Analysts anticipate that Biogen Inc. will post 15.63 earnings per share for the current year.

Biogen Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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