Flagship Harbor Advisors LLC Raises Stock Position in Biogen Inc. (NASDAQ:BIIB)

Flagship Harbor Advisors LLC boosted its position in Biogen Inc. (NASDAQ:BIIB) by 11.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,553 shares of the biotechnology company’s stock after purchasing an additional 155 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Biogen were worth $237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in Biogen by 19,722.9% during the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after buying an additional 357,181 shares during the period. Mizuho Securities USA LLC boosted its position in shares of Biogen by 2,715.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after acquiring an additional 304,778 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Biogen during the third quarter worth about $55,826,000. State Street Corp increased its position in shares of Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after purchasing an additional 248,942 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in Biogen by 122.1% during the third quarter. Two Sigma Advisers LP now owns 427,600 shares of the biotechnology company’s stock valued at $82,886,000 after purchasing an additional 235,100 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BIIB has been the topic of a number of research analyst reports. Stifel Nicolaus lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a report on Monday, December 16th. BMO Capital Markets downgraded Biogen from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $230.00 to $164.00 in a research report on Friday, December 20th. Citigroup cut their price objective on Biogen from $190.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday. HC Wainwright reissued a “buy” rating and set a $300.00 price objective on shares of Biogen in a report on Thursday, October 31st. Finally, UBS Group reduced their price target on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $228.80.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $144.41 on Thursday. The company has a 50 day moving average of $151.55 and a 200 day moving average of $180.05. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen Inc. has a twelve month low of $139.71 and a twelve month high of $251.99. The firm has a market cap of $21.04 billion, a P/E ratio of 13.05, a PEG ratio of 1.64 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results 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. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the company posted $4.36 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, research analysts expect that Biogen Inc. will post 16.41 EPS for the current fiscal year.

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.