Biogen Inc. (NASDAQ:BIIB) Shares Purchased by APG Asset Management N.V.

APG Asset Management N.V. lifted its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 346.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 105,446 shares of the biotechnology company's stock after purchasing an additional 81,811 shares during the period. APG Asset Management N.V. owned approximately 0.07% of Biogen worth $15,572,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BIIB. Larson Financial Group LLC increased its position 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 worth $25,000 after acquiring an additional 141 shares during the period. Lee Danner & Bass Inc. purchased a new stake in Biogen during the 4th quarter worth about $25,000. OFI Invest Asset Management acquired a new stake in Biogen in the 4th quarter valued at about $32,000. SRS Capital Advisors Inc. purchased a new position in shares of Biogen in the 4th quarter valued at about $33,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Biogen during the fourth quarter worth about $41,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BIIB. StockNews.com downgraded shares of Biogen from a "strong-buy" rating to a "buy" rating in a research note on Saturday, December 28th. Citigroup lowered their target price on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Canaccord Genuity Group cut 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. Argus cut Biogen from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Morgan Stanley reduced their price objective on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Biogen presently has a consensus rating of "Hold" and an average price target of $213.15.

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Biogen Trading Up 3.6 %

Shares of Biogen stock traded up $4.09 during mid-day trading on Monday, hitting $119.26. 1,687,602 shares of the stock were exchanged, compared to its average volume of 1,354,737. The stock has a market capitalization 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 Inc. has a twelve month low of $110.04 and a twelve month high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $136.74 and a 200 day simple moving average of $153.74.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping 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%. 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 company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company 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.