J. Safra Sarasin Holding AG Acquires 6,707 Shares of Biogen Inc. $BIIB

J. Safra Sarasin Holding AG raised its stake in Biogen Inc. (NASDAQ:BIIB) by 282.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,081 shares of the biotechnology company’s stock after acquiring an additional 6,707 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Biogen were worth $1,272,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Biogen during the 2nd quarter valued at approximately $284,358,000. Orion Porfolio Solutions LLC grew its stake in shares of Biogen by 6,828.4% during the second quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock worth $64,965,000 after buying an additional 509,809 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Biogen by 190.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 624,371 shares of the biotechnology company’s stock worth $78,415,000 after buying an additional 409,591 shares in the last quarter. AustralianSuper Pty Ltd lifted its stake in shares of Biogen by 85.9% in the 2nd quarter. AustralianSuper Pty Ltd now owns 739,416 shares of the biotechnology company’s stock valued at $92,863,000 after acquiring an additional 341,719 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Biogen by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock valued at $2,171,533,000 after acquiring an additional 257,812 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Up 0.4%

Biogen stock opened at $174.83 on Thursday. The firm has a market cap of $25.65 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.45 and a beta of 0.13. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $190.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.04 and a current ratio of 2.72. The firm has a 50 day moving average price of $176.22 and a two-hundred day moving average price of $154.14.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. Biogen had a net margin of 15.98% and a return on equity of 14.13%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the firm posted $4.08 EPS. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Hsbc Global Res cut Biogen from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 10th. Mizuho boosted their price target on Biogen from $177.00 to $207.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Truist Financial raised their price objective on shares of Biogen from $142.00 to $190.00 and gave the company a “hold” rating in a report on Thursday, January 8th. Piper Sandler reiterated a “neutral” rating and set a $157.00 target price (up from $118.00) on shares of Biogen in a research report on Friday, November 21st. Finally, Rothschild & Co Redburn upped their price target on shares of Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Ten analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $192.04.

Biogen Profile

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.