Oddo BHF Asset Management Sas Purchases Shares of 7,136 Biogen Inc. (NASDAQ:BIIB)

Oddo BHF Asset Management Sas purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,136 shares of the biotechnology company's stock, valued at approximately $1,383,000.

Other institutional investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in Biogen in the second quarter valued at about $33,000. Ashton Thomas Securities LLC acquired a new position in shares of Biogen in the 3rd quarter worth approximately $33,000. Blue Trust Inc. grew its position in Biogen by 249.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company's stock worth $38,000 after acquiring an additional 127 shares during the last quarter. First Horizon Advisors Inc. grew its position in Biogen by 39.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company's stock worth $40,000 after acquiring an additional 49 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company's stock valued at $42,000 after purchasing an additional 93 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Down 3.4 %

BIIB traded down $5.30 during trading on Friday, reaching $150.03. The company had a trading volume of 1,608,569 shares, compared to its average volume of 1,191,503. The company has a market cap of $21.86 billion, a P/E ratio of 13.55, a PEG ratio of 1.83 and a beta of -0.08. Biogen Inc. has a 12 month low of $149.93 and a 12 month high of $268.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The business's fifty day moving average price is $171.21 and its 200 day moving average price is $198.41.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion for 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 firm's revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.36 EPS. Equities analysts anticipate that Biogen Inc. will post 16.43 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Raymond James restated a "market perform" rating on shares of Biogen in a report on Thursday, October 10th. Oppenheimer decreased their price objective on shares of Biogen from $270.00 to $255.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $292.00 target price on shares of Biogen in a research note on Monday, September 9th. Royal Bank of Canada decreased their price target on shares of Biogen from $292.00 to $269.00 and set an "outperform" rating on the stock in a research note on Friday, October 4th. Finally, Jefferies Financial Group cut shares of Biogen from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $249.80.

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.