OVERSEA CHINESE BANKING Corp Ltd Has $3.05 Million Stake in Biogen Inc. (NASDAQ:BIIB)

OVERSEA CHINESE BANKING Corp Ltd grew its position in Biogen Inc. (NASDAQ:BIIB) by 25.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,742 shares of the biotechnology company’s stock after buying an additional 3,145 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Biogen were worth $3,051,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Biogen by 15.0% in the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock valued at $3,573,075,000 after buying an additional 2,163,068 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Biogen by 19,722.9% in the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after purchasing an additional 357,181 shares in the last quarter. RA Capital Management L.P. grew its holdings in shares of Biogen by 39.0% during the 1st quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after purchasing an additional 207,835 shares during the last quarter. Primecap Management Co. CA increased its position in Biogen by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock worth $3,787,543,000 after purchasing an additional 117,578 shares in the last quarter. Finally, Swedbank AB bought a new position in Biogen in the 1st quarter valued at approximately $22,939,000. Institutional investors own 87.93% of the company’s stock.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BIIB has been the topic of a number of research reports. BMO Capital Markets decreased their target price on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Robert W. Baird reduced their price objective on Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. HC Wainwright reiterated a “buy” rating and issued a $300.00 target price on shares of Biogen in a research report on Thursday, October 31st. JPMorgan Chase & Co. reduced their price target on Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Oppenheimer dropped their price objective on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Biogen presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.58.

Biogen Trading Down 2.2 %

NASDAQ BIIB opened at $168.28 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 52 week low of $167.71 and a 52 week high of $268.30. The business has a 50 day moving average price of $189.06 and a 200-day moving average price of $208.65. The company has a market cap of $24.52 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 1.63 and a beta of -0.06.

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. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.36 EPS. As a group, equities analysts expect that Biogen Inc. will post 16.4 earnings per share for the current fiscal year.

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.