Mediolanum International Funds Ltd Takes $6.55 Million Position in Biogen Inc. (NASDAQ:BIIB)

Mediolanum International Funds Ltd acquired a new stake in Biogen Inc. (NASDAQ:BIIB) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,278 shares of the biotechnology company’s stock, valued at approximately $6,550,000.

Other institutional investors have also modified their holdings of the company. Livelsberger Financial Advisory acquired a new stake in shares of Biogen in the fourth quarter valued at $26,000. Gladius Capital Management LP acquired a new stake in shares of Biogen in the third quarter valued at $28,000. Hexagon Capital Partners LLC lifted its holdings in shares of Biogen by 76.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 51 shares during the period. Rise Advisors LLC purchased a new stake in shares of Biogen during the first quarter valued at $27,000. Finally, CVA Family Office LLC purchased a new stake in shares of Biogen during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Up 1.6 %

Shares of NASDAQ BIIB traded up $3.69 during mid-day trading on Wednesday, reaching $232.75. 522,564 shares of the company traded hands, compared to its average volume of 1,136,300. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10. The stock has a market cap of $33.89 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 2.30 and a beta of -0.04. The company’s fifty day moving average is $225.45 and its two-hundred day moving average is $227.14. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $281.68.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.40 EPS. On average, analysts expect that Biogen Inc. will post 15.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $294.00 target price on shares of Biogen in a report on Friday, June 28th. Truist Financial reaffirmed a “buy” rating and set a $340.00 target price on shares of Biogen in a report on Thursday, May 16th. HC Wainwright reaffirmed a “buy” rating and set a $300.00 target price on shares of Biogen in a report on Thursday, May 23rd. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Finally, Barclays reduced their target price on Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $286.50.

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.