UniSuper Management Pty Ltd Has $11.40 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

UniSuper Management Pty Ltd boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 9.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 52,889 shares of the biotechnology company’s stock after buying an additional 4,671 shares during the period. UniSuper Management Pty Ltd’s holdings in Biogen were worth $11,404,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BIIB. Whittier Trust Co. grew its stake in shares of Biogen by 3.4% in the fourth quarter. Whittier Trust Co. now owns 4,097 shares of the biotechnology company’s stock valued at $1,060,000 after buying an additional 136 shares in the last quarter. Advisor Resource Council bought a new stake in shares of Biogen in the fourth quarter valued at about $298,000. CX Institutional bought a new stake in shares of Biogen in the fourth quarter valued at about $224,000. Premier Path Wealth Partners LLC bought a new stake in Biogen during the fourth quarter worth about $1,001,000. Finally, Mutual Advisors LLC lifted its position in Biogen by 15.7% during the fourth quarter. Mutual Advisors LLC now owns 3,496 shares of the biotechnology company’s stock worth $905,000 after purchasing an additional 475 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BIIB. Truist Financial reaffirmed a “buy” rating and issued a $340.00 price objective on shares of Biogen in a research note on Thursday, May 16th. Bank of America decreased their target price on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. HC Wainwright reissued a “buy” rating and set a $300.00 target price on shares of Biogen in a research report on Thursday, May 23rd. William Blair restated an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Finally, Wedbush increased their price target on Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Biogen has a consensus rating of “Moderate Buy” and an average price target of $286.00.

Biogen Stock Performance

BIIB stock traded down $2.34 during trading on Tuesday, reaching $224.29. The stock had a trading volume of 854,374 shares, compared to its average volume of 1,125,625. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $280.42. The stock’s 50 day moving average is $226.92 and its two-hundred day moving average is $224.81. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. The firm has a market cap of $32.66 billion, a PE ratio of 28.00, a PEG ratio of 2.28 and a beta of -0.04.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. Biogen’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.40 earnings per share. As a group, equities analysts anticipate that Biogen Inc. will post 15.61 earnings per share for the current year.

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.