Banque Pictet & Cie SA Raises Stock Position in Biogen Inc. (NASDAQ:BIIB)

Banque Pictet & Cie SA increased its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 106.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,494 shares of the biotechnology company's stock after acquiring an additional 32,759 shares during the quarter. Banque Pictet & Cie SA's holdings in Biogen were worth $9,710,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Inspire Trust Co. N.A. lifted its position in shares of Biogen by 58.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company's stock worth $2,113,000 after purchasing an additional 4,025 shares during the period. Assenagon Asset Management S.A. raised its stake in Biogen by 0.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company's stock worth $6,646,000 after buying an additional 111 shares in the last quarter. Centre Asset Management LLC lifted its holdings in Biogen by 7.7% during the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company's stock worth $7,880,000 after buying an additional 3,698 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company's stock valued at $176,982,000 after acquiring an additional 12,319 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Biogen by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company's stock valued at $32,687,000 after acquiring an additional 5,270 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of analyst reports. Needham & Company LLC restated a "hold" rating on shares of Biogen in a research note on Thursday, February 13th. The Goldman Sachs Group decreased their price target on shares of Biogen from $281.00 to $245.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. HC Wainwright lowered their price target on shares of Biogen from $300.00 to $241.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Bank of America reiterated a "neutral" rating and set a $178.00 price objective on shares of Biogen in a research note on Tuesday, December 10th. Finally, StockNews.com downgraded shares of Biogen from a "strong-buy" rating to a "buy" rating in a research note on Saturday, December 28th. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Biogen has an average rating of "Hold" and a consensus price target of $211.85.

Biogen Stock Performance

NASDAQ:BIIB traded down $0.76 during trading hours on Tuesday, reaching $136.57. The company had a trading volume of 1,327,009 shares, compared to its average volume of 1,414,183. The firm has a market cap of $19.90 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00. The business's 50 day moving average price is $146.52 and its 200-day moving average price is $172.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.81% and a return on equity of 14.98%. Research analysts forecast that Biogen Inc. will post 16.42 EPS for the current year.

About Biogen

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.