Elo Mutual Pension Insurance Co Raises Holdings in Biogen Inc. (NASDAQ:BIIB)

Elo Mutual Pension Insurance Co raised its position in Biogen Inc. (NASDAQ:BIIB) by 25.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,100 shares of the biotechnology company’s stock after purchasing an additional 3,216 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Biogen were worth $2,462,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Lee Danner & Bass Inc. acquired a new position in shares of Biogen in the 4th quarter valued at about $25,000. Larson Financial Group LLC boosted its holdings in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. SRS Capital Advisors Inc. acquired a new stake in shares of Biogen during the fourth quarter worth approximately $33,000. OFI Invest Asset Management bought a new stake in shares of Biogen in the 4th quarter worth about $32,000. Finally, Itau Unibanco Holding S.A. raised its stake in Biogen by 63.8% during the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Down 1.4 %

Shares of Biogen stock opened at $138.37 on Friday. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average price of $141.88 and a two-hundred day moving average price of $159.97. The stock has a market capitalization of $20.25 billion, a P/E ratio of 12.37, a PEG ratio of 1.51 and a beta of 0.01.

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

Insider Buying and Selling

In other news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

BIIB has been the subject of several recent research reports. Royal Bank of Canada lowered their target price on Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Bank of America reiterated a “neutral” rating and set a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. HC Wainwright dropped their target price on shares of Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Piper Sandler restated a “neutral” rating and issued a $135.00 price target (down previously from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Finally, Truist Financial dropped their price target on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $213.33.

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.