Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Invesco Ltd.

Invesco Ltd. boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 30.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,128,807 shares of the biotechnology company’s stock after purchasing an additional 499,074 shares during the quarter. Invesco Ltd. owned approximately 1.46% of Biogen worth $325,537,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in BIIB. Pacer Advisors Inc. increased its stake in Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after purchasing an additional 2,648,024 shares during the last quarter. Norges Bank acquired a new stake in Biogen during the fourth quarter worth about $355,569,000. Van ECK Associates Corp increased its stake in Biogen by 977.9% during the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock worth $163,083,000 after acquiring an additional 967,523 shares during the last quarter. FMR LLC increased its stake in Biogen by 98.7% during the fourth quarter. FMR LLC now owns 757,570 shares of the biotechnology company’s stock worth $115,848,000 after acquiring an additional 376,356 shares during the last quarter. Finally, Amundi increased its stake in Biogen by 35.6% during the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after acquiring an additional 319,478 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on BIIB shares. The Goldman Sachs Group dropped their price target on Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. BMO Capital Markets dropped their price target on Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of Biogen 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 for the company in a research note on Thursday, February 13th. Finally, StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Eighteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Hold” and an average price target of $213.15.

Insider Buying and Selling

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Biogen Trading Up 5.6 %

NASDAQ:BIIB opened at $120.49 on Thursday. 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 business’s 50 day moving average is $137.86 and its two-hundred day moving average is $155.09. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00. The company has a market cap of $17.64 billion, a PE ratio of 10.77, a P/E/G ratio of 1.51 and a beta of 0.06.

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

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.