Biogen Inc. (NASDAQ:BIIB) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 18.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,628 shares of the biotechnology company’s stock after buying an additional 23,358 shares during the period. Russell Investments Group Ltd. owned about 0.10% of Biogen worth $31,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in BIIB. Primecap Management Co. CA boosted its holdings in shares of Biogen by 1.6% during the 4th quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock worth $4,208,760,000 after purchasing an additional 251,915 shares during the last quarter. Vanguard Group Inc. raised its position in Biogen by 18.2% in the 4th quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock valued at $3,728,185,000 after purchasing an additional 2,218,744 shares in the last quarter. Van ECK Associates Corp lifted its stake in Biogen by 22.2% in the first quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock worth $374,623,000 after acquiring an additional 316,144 shares during the last quarter. Norges Bank purchased a new stake in shares of Biogen during the 4th quarter worth $378,728,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Biogen by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,424,659 shares of the biotechnology company’s stock worth $368,685,000 after acquiring an additional 43,444 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BIIB. Oppenheimer restated an “outperform” rating and issued a $270.00 target price on shares of Biogen in a report on Monday, April 29th. Wedbush upped their price target on Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. HSBC raised their target price on shares of Biogen from $339.00 to $342.00 and gave the company a “buy” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. dropped their price target on Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Finally, Bank of America cut their price objective on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $286.00.

Biogen Stock Up 1.6 %

Shares of NASDAQ:BIIB traded up $3.44 during mid-day trading on Tuesday, hitting $225.02. 1,006,170 shares of the company traded hands, compared to its average volume of 1,136,172. The firm has a market cap of $32.76 billion, a P/E ratio of 27.66, a PEG ratio of 2.32 and a beta of -0.04. The firm’s 50 day simple moving average is $226.50 and its 200 day simple moving average is $226.29. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $281.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.45 by $0.22. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.40 earnings per share. On average, equities analysts anticipate that Biogen Inc. will post 15.62 EPS for the current 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.