Zurcher Kantonalbank Zurich Cantonalbank Has $25.70 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)\n\nZurcher Kantonalbank Zurich Cantonalbank increased its holdings in Biogen Inc. by 30.3% during the first quarter, owning approximately 187,803 shares valued at around $25.7 million. Insider Rachid Izzar sold 2,223 shares at an average price of $135.00, resulting in a significant decrease of 25.99% in his position. Biogen's stock is currently trading down 1.1% at $127.90, with analyst ratings showing an average consensus of 'Hold' and a target price of $186.37.\n\nSeveral other hedge funds have also made changes to their positions in BIIB. Colonial Trust Co SC increased its position in Biogen by 9,300.0% in the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 186 shares during the period. Opal Wealth Advisors LLC acquired a new stake in Biogen in the 1st quarter valued at approximately $26,000. Private Trust Co. NA increased its position in Biogen by 74.8% in the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 98 shares during the period. CVA Family Office LLC increased its position in shares of Biogen by 71.1% during the 1st quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 96 shares during the period. Finally, NBC Securities Inc. acquired a new position in shares of Biogen during the 1st quarter valued at $35,000.\n\nInstitutional investors own 87.93% of the company's stock. Get Biogen alerts: Sign Up Biogen Stock Performance traded down $1.26 on Wednesday, hitting $126.64. 1,891,266 shares of the stock traded hands, compared to its average volume of 1,552,136. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $219.44. The company has a current ratio of 1.44, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $18.56 billion, a PE ratio of 12.50, a P/E/G ratio of 1.87 and a beta of 0.14. The business has a fifty day moving average price of $129.69 and a two-hundred day moving average price of $132.09.\n\nBiogen ( - ) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a net margin of 15.07% and a return on equity of 14.03%. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the firm earned $3.67 earnings per share. The company's revenue was up 6.2% on a year-over-year basis. On average, research analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.\n\nAnalysts Set New Price Targets Several equities analysts have recently issued reports on the company. Canaccord Genuity Group lowered their price target on Biogen from $265.00 to $220.00 and set a 'buy' rating on the stock in a research report on Friday, May 2nd. Truist Financial assumed coverage on Biogen in a research report on Monday, July 21st. They set a 'hold' rating and a $142.00 price target on the stock. Royal Bank Of Canada set a $213.00 price target on Biogen and gave the company an 'outperform' rating in a research report on Wednesday, June 25th. Morgan Stanley decreased their target price on Biogen from $157.00 to $152.00 and set an 'equal weight' rating on the stock in a report on Wednesday, April 9th. Finally, Oppenheimer set a $205.00 target price on Biogen in a report on Friday, May 2nd. Twenty-one research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of 'Hold' and a consensus price target of $186.37.\n\nInsider Transactions at Biogen In related news, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the transaction, the insider directly owned 6,330 shares in the company, valued at $854,550. The trade was a 25.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at . 0.18% of the stock is owned by corporate insiders.\n\nBiogen 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.

Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Biogen Inc. (NASDAQ:BIIB)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Biogen Inc. by 30.3%, owning approximately 187,803 shares valued at $25.7 million. Insider Rachid Izzar sold 2,223 shares, reducing his position by 25.99%. Biogen's stock fell 1.1% to $127.90, with analyst ratings averaging 'Hold' and a target price of $186.37. Multiple hedge funds adjusted their positions in Biogen, and the company reported Q1 earnings missing expectations. Biogen has a market cap of $18.56 billion and a 52-week stock range of $110.04 to $219.44.