Aquatic Capital Management LLC Boosts Holdings in Biogen Inc. (NASDAQ:BIIB)

Aquatic Capital Management LLC raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 20.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 64,945 shares of the biotechnology company’s stock after acquiring an additional 10,845 shares during the period. Aquatic Capital Management LLC’s holdings in Biogen were worth $9,931,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BIIB. Vanguard Group Inc. grew its holdings in Biogen by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company’s stock valued at $2,561,238,000 after purchasing an additional 70,368 shares during the period. Geode Capital Management LLC lifted its position in shares of Biogen by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company’s stock valued at $563,709,000 after buying an additional 82,456 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after acquiring an additional 2,648,024 shares during the period. Norges Bank purchased a new stake in Biogen in the 4th quarter worth approximately $355,569,000. Finally, Invesco Ltd. raised its stake in Biogen by 30.6% during the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company’s stock worth $325,537,000 after acquiring an additional 499,074 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Down 0.6 %

Shares of BIIB stock opened at $118.84 on Friday. The stock has a market capitalization of $17.40 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $238.00. 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 company has a 50 day moving average price of $132.47 and a 200 day moving average price of $149.39.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS 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%. Equities research analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. The Goldman Sachs Group dropped their price target on Biogen from $219.00 to $197.00 and set a “buy” rating for the company in a research note on Wednesday. Piper Sandler reiterated 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. Bank Of America (Bofa) decreased their target price on Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Finally, Scotiabank cut their price target on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $211.37.

Insiders Place Their Bets

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.