KBC Group NV Has $6.44 Million Position in Biogen Inc. (NASDAQ:BIIB)

KBC Group NV decreased its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 20.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,229 shares of the biotechnology company's stock after selling 8,752 shares during the quarter. KBC Group NV's holdings in Biogen were worth $6,441,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Plato Investment Management Ltd increased its position in Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company's stock worth $25,000 after buying an additional 53 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Biogen during the second quarter worth about $33,000. Versant Capital Management Inc grew its position in shares of Biogen by 123.2% during the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 85 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Biogen during the first quarter worth about $36,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Biogen during the third quarter worth about $33,000. Hedge funds and other institutional investors own 87.93% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Oppenheimer cut their price target on Biogen from $270.00 to $255.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Raymond James reaffirmed a "market perform" rating on shares of Biogen in a research report on Thursday, October 10th. Mizuho cut their price objective on Biogen from $277.00 to $251.00 and set an "outperform" rating for the company in a research note on Tuesday, August 6th. JPMorgan Chase & Co. cut their price objective on Biogen from $220.00 to $210.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. Finally, Barclays cut their price objective on Biogen from $190.00 to $180.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. Thirteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $258.96.

Biogen Trading Down 1.3 %

Shares of BIIB traded down $2.06 on Monday, reaching $157.93. 1,148,756 shares of the company's stock were exchanged, compared to its average volume of 1,169,458. The stock has a market capitalization of $23.01 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 1.51 and a beta of -0.06. The business has a 50 day moving average price of $185.99 and a two-hundred day moving average price of $207.27. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12 month low of $157.48 and a 12 month high of $268.30.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion during 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 business's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.36 earnings per share. Research analysts anticipate that Biogen Inc. will post 16.42 earnings per share for the current year.

Insider Activity

In other 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 transaction, the insider now directly owns 5,316 shares of the company's stock, valued at $1,085,633.52. This represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.16% of the company's stock.

Biogen Company 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.