Blair William & Co. IL Purchases 894 Shares of Biogen Inc. (NASDAQ:BIIB)

Blair William & Co. IL raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 7.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,049 shares of the biotechnology company’s stock after purchasing an additional 894 shares during the quarter. Blair William & Co. IL’s holdings in Biogen were worth $1,996,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BIIB. Inspire Trust Co. N.A. increased its position in shares of Biogen by 58.5% during the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after acquiring an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Biogen by 0.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after purchasing an additional 111 shares in the last quarter. Centre Asset Management LLC raised its stake in shares of Biogen by 7.7% in the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after purchasing an additional 3,698 shares during the last quarter. Amundi lifted its holdings in shares of Biogen by 35.6% during the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after purchasing an additional 319,478 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Biogen by 48.0% during the fourth quarter. Nordea Investment Management AB now owns 117,963 shares of the biotechnology company’s stock valued at $17,901,000 after buying an additional 38,283 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BIIB. Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and dropped their price target for the company from $250.00 to $180.00 in a report on Monday, December 9th. William Blair restated an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Truist Financial decreased their target price on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Canaccord Genuity Group dropped their price target on Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Royal Bank of Canada lowered their target price on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $213.33.

Biogen Stock Performance

NASDAQ:BIIB opened at $132.03 on Wednesday. The company has a market cap of $19.33 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The stock’s 50 day simple moving average is $141.63 and its two-hundred day simple moving average is $158.82. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, equities analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Activity at Biogen

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

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.