920 Shares in Biogen Inc. (NASDAQ:BIIB) Acquired by Nexus Investment Management ULC

Nexus Investment Management ULC acquired a new position in Biogen Inc. (NASDAQ:BIIB) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 920 shares of the biotechnology company’s stock, valued at approximately $126,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Biogen by 0.4% in the 4th 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 boosted its holdings in Biogen by 2.3% in 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 purchasing an additional 82,456 shares during the period. Norges Bank bought a new position in Biogen in the 4th quarter valued at $355,569,000. Invesco Ltd. boosted its holdings in Biogen by 30.6% in the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company’s stock valued at $325,537,000 after purchasing an additional 499,074 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Biogen by 1.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,933,716 shares of the biotechnology company’s stock valued at $295,705,000 after purchasing an additional 21,170 shares during the period. 87.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63% decrease in their ownership of the stock. 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.

Analyst Upgrades and Downgrades

Several research analysts have commented on BIIB shares. Royal Bank of Canada cut their price target on shares of Biogen from $217.00 to $205.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Bank Of America (Bofa) cut their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. HC Wainwright cut their price target on shares of Biogen from $241.00 to $187.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Sanford C. Bernstein began coverage on shares of Biogen in a report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price target for the company. Finally, Citigroup dropped their price objective on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Twenty research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Biogen has a consensus rating of “Hold” and a consensus price target of $191.30.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $132.75 on Friday. The stock has a market cap of $19.45 billion, a PE ratio of 11.86, a PEG ratio of 1.51 and a beta of 0.12. The company’s fifty day moving average is $123.59 and its 200 day moving average is $139.69. Biogen Inc. has a 52 week low of $110.04 and a 52 week 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.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). Biogen had a return on equity of 14.98% and a net margin of 16.87%. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the business earned $3.67 EPS. Biogen’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

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.