Generali Asset Management SPA SGR Invests $2.48 Million in Biogen Inc. (NASDAQ:BIIB)

Generali Asset Management SPA SGR bought a new position in Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 16,195 shares of the biotechnology company’s stock, valued at approximately $2,477,000.

Several other institutional investors have also recently made changes to their positions in the company. Grandfield & Dodd LLC raised its position in shares of Biogen by 5.2% in the 3rd quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock worth $244,000 after acquiring an additional 62 shares in the last quarter. Signaturefd LLC increased its position in Biogen by 3.5% during the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock valued at $320,000 after buying an additional 71 shares in the last quarter. Quent Capital LLC increased its position in Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 72 shares in the last quarter. TD Private Client Wealth LLC increased its position in Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 77 shares in the last quarter. Finally, Principal Securities Inc. increased its position in Biogen by 30.1% during the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after buying an additional 78 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

NASDAQ BIIB opened at $141.43 on Thursday. The company has a market capitalization of $20.70 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The business’s fifty day moving average is $142.51 and its 200 day moving average is $163.00. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Sell-side analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BIIB shares. Piper Sandler reaffirmed a “neutral” rating and set a $135.00 price objective (down previously from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Wells Fargo & Company reduced their price objective on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Finally, Scotiabank cut their target price on Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Biogen currently has a consensus rating of “Hold” and an average price target of $213.33.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.16% of the company’s stock.

Biogen Company 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.