Biogen Inc. $BIIB Shares Bought by Leuthold Group LLC

Leuthold Group LLC lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 9.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,509 shares of the biotechnology company’s stock after purchasing an additional 3,020 shares during the quarter. Leuthold Group LLC’s holdings in Biogen were worth $7,795,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Biogen during the 2nd quarter valued at about $3,453,878,000. Primecap Management Co. CA bought a new stake in shares of Biogen during the 2nd quarter worth about $3,274,304,000. Legal & General Group Plc bought a new stake in shares of Biogen during the 2nd quarter worth about $322,640,000. Pictet Asset Management Holding SA lifted its stake in shares of Biogen by 139.4% in the 3rd quarter. Pictet Asset Management Holding SA now owns 2,039,056 shares of the biotechnology company’s stock worth $460,582,000 after acquiring an additional 1,187,237 shares during the period. Finally, Bank of America Corp DE acquired a new stake in shares of Biogen in the 2nd quarter worth approximately $241,172,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of Biogen from $256.00 to $272.00 and gave the company an “outperform” rating in a research note on Thursday, October 29th. Weiss Ratings downgraded Biogen from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 29th. Zacks Research upgraded Biogen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Wells Fargo & Company increased their price target on Biogen from $250.00 to $310.00 and gave the company an “overweight” rating in a research note on Tuesday, October 20th. Finally, HC Wainwright lifted their price target on Biogen from $251.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.41.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $254.87 on Tuesday. Biogen Inc. has a twelve month low of $153.77 and a twelve month high of $261.00. The company has a current ratio of 1.95, a quick ratio of 1.37 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average of $230.73 and a two-hundred day moving average of $203.45. The company has a market capitalization of $37.67 billion, a price-to-earnings ratio of 108.92, a PEG ratio of 2.89 and a beta of 0.10.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 28th. The biotechnology company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.63. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Biogen had a net margin of 3.37% and a return on equity of 9.38%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.81 EPS. As a group, analysts expect that Biogen Inc. will post 12.45 earnings per share for the current fiscal year.

Biogen Company Profile

Biogen is a biotechnology company focused on developing and commercializing medicines for neurological and rare diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy and Friedreich’s ataxia.

Its products include multiple sclerosis treatments such as Tysabri, Tecfidera and Vumerity, and Skyclarys for Friedreich’s ataxia. Biogen shares rights to several medicines with other companies, including Leqembi for Alzheimer’s disease with Eisai and Spinraza for spinal muscular atrophy with Ionis Pharmaceuticals.

Founded in 1978, Biogen is headquartered in Cambridge, Massachusetts, and serves patients and healthcare providers in the United States and international markets.