APG Asset Management US Inc. bought a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,010 shares of the biotechnology company's stock, valued at approximately $460,000.
A number of other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Biogen during the 4th quarter worth about $21,710,000. APG Asset Management N.V. raised its position in Biogen by 346.1% in the fourth quarter. APG Asset Management N.V. now owns 105,446 shares of the biotechnology company's stock worth $15,572,000 after purchasing an additional 81,811 shares in the last quarter. Greenland Capital Management LP acquired a new stake in Biogen in the 4th quarter valued at $265,000. Bank of Nova Scotia boosted its position in Biogen by 10.3% in the fourth quarter. Bank of Nova Scotia now owns 20,552 shares of the biotechnology company's stock valued at $3,143,000 after buying an additional 1,915 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Biogen by 25.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,192,206 shares of the biotechnology company's stock worth $182,312,000 after purchasing an additional 239,500 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.
Biogen Stock Performance
Shares of NASDAQ BIIB traded down $1.85 during mid-day trading on Tuesday, reaching $117.41. 312,433 shares of the company's stock were exchanged, compared to its average volume of 1,350,747. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00. The firm has a 50-day moving average price of $136.21 and a two-hundred day moving average price of $153.22. 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 firm has a market capitalization of $17.19 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06.
Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (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%. Analysts predict that Biogen Inc. will post 15.83 EPS for the current year.
Insider Buying and Selling at Biogen
In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction 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 completion of the transaction, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on BIIB. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a report on Thursday, February 13th. Stifel Nicolaus downgraded shares of Biogen from a "buy" rating to a "hold" rating and set a $175.00 price objective for the company. in a research report on Monday, December 16th. Argus cut shares of Biogen from a "buy" rating to a "hold" rating in a report on Friday, April 4th. William Blair reissued an "outperform" rating on shares of Biogen in a research report on Monday, January 13th. Finally, Sanford C. Bernstein assumed coverage on Biogen in a research note on Tuesday, February 11th. They set a "market perform" rating and a $160.00 target price for the company. Eighteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Biogen presently has an average rating of "Hold" and a consensus target price of $213.15.
View Our Latest Stock Analysis on BIIB
About Biogen
(
Free Report)
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.
See Also
Before you consider Biogen, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Biogen wasn't on the list.
While Biogen currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
