Fmr LLC Grows Position in Biogen Inc. (NASDAQ:BIIB)

Fmr LLC boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 98.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 757,570 shares of the biotechnology company’s stock after acquiring an additional 376,356 shares during the period. Fmr LLC owned about 0.52% of Biogen worth $115,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Larson Financial Group LLC boosted its stake in shares of Biogen by 640.9% during 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 in the last quarter. Lee Danner & Bass Inc. bought a new stake in Biogen during the 4th quarter valued at $25,000. OFI Invest Asset Management bought a new stake in Biogen during the 4th quarter valued at $32,000. SRS Capital Advisors Inc. purchased a new position in shares of Biogen in the 4th quarter valued at $33,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Biogen in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price on the stock. in a research note on Monday, December 16th. Wells Fargo & Company cut their price objective on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Bank Of America (Bofa) decreased their target price on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Canaccord Genuity Group lowered their target price on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, BMO Capital Markets reduced their price target on Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research report on Thursday, February 13th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Biogen presently has an average rating of “Hold” and an average price target of $213.15.

Biogen Price Performance

NASDAQ:BIIB opened at $119.26 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The company has a 50 day moving average price of $136.21 and a 200-day moving average price of $153.22. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $238.00. The firm has a market cap of $17.46 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share 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 research analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

Insider Buying and Selling

In related news, Director Stephen A. Sherwin sold 8,760 shares of the business’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 completion of the sale, the director now owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.

About Biogen

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.