Biogen Inc. $BIIB Stock Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 1,524.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,175,055 shares of the biotechnology company’s stock after purchasing an additional 2,041,161 shares during the period. Biogen accounts for 0.4% of Russell Investments Group Ltd.’s portfolio, making the stock its 26th largest holding. Russell Investments Group Ltd. owned 1.47% of Biogen worth $491,301,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. boosted its holdings in Biogen by 179.3% during the third quarter. Eurizon Capital SGR S.p.A. now owns 286,567 shares of the biotechnology company’s stock valued at $64,730,000 after acquiring an additional 183,973 shares during the period. CENTRAL TRUST Co increased its stake in shares of Biogen by 3,271.3% in the third quarter. CENTRAL TRUST Co now owns 5,765 shares of the biotechnology company’s stock worth $1,302,000 after purchasing an additional 5,594 shares during the period. Fifth Third Bancorp lifted its position in shares of Biogen by 1,086.4% during the 3rd quarter. Fifth Third Bancorp now owns 389,633 shares of the biotechnology company’s stock worth $88,010,000 after purchasing an additional 356,792 shares during the last quarter. New Mexico Educational Retirement Board lifted its position in shares of Biogen by 1,707.3% during the 3rd quarter. New Mexico Educational Retirement Board now owns 130,556 shares of the biotechnology company’s stock worth $29,490,000 after purchasing an additional 123,332 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its stake in Biogen by 15.3% during the 3rd quarter. Maryland State Retirement & Pension System now owns 9,043 shares of the biotechnology company’s stock valued at $2,043,000 after purchasing an additional 1,200 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group lifted their price target on Biogen from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. HC Wainwright raised their price objective on shares of Biogen from $251.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, November 2nd. Morgan Stanley raised their price objective on shares of Biogen from $231.00 to $238.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 29th. Wall Street Zen raised shares of Biogen from a “hold” rating to a “strong-buy” rating in a research report on Saturday, October 31st. Finally, Bank of America upped their target price on shares of Biogen from $219.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.41.

Biogen Trading Down 1.2%

Shares of BIIB stock opened at $250.48 on Friday. Biogen Inc. has a 52-week low of $160.36 and a 52-week high of $261.00. The stock has a market cap of $37.03 billion, a price-to-earnings ratio of 107.04, a P/E/G ratio of 2.87 and a beta of 0.10. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.37 and a current ratio of 1.95. The firm has a fifty day moving average of $232.77 and a 200-day moving average of $204.64.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 28th. The biotechnology company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.63. Biogen had a net margin of 3.37% and a return on equity of 9.38%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period last year, the firm earned $4.81 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities research analysts forecast that Biogen Inc. will post 12.46 earnings per share for the current fiscal year.

About Biogen

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.