Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Aviva PLC

Aviva PLC increased its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 373.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,731 shares of the biotechnology company's stock after acquiring an additional 69,199 shares during the quarter. Aviva PLC owned approximately 0.06% of Biogen worth $13,416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Biogen by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company's stock worth $2,561,238,000 after purchasing an additional 70,368 shares during the period. Geode Capital Management LLC raised its stake in Biogen by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company's stock worth $563,709,000 after buying an additional 82,456 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock worth $407,919,000 after buying an additional 2,648,024 shares during the period. Norges Bank bought a new stake in Biogen during the 4th quarter valued at $355,569,000. Finally, Amundi increased its holdings in shares of Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company's stock valued at $183,461,000 after acquiring an additional 319,478 shares during the period. 87.93% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Scotiabank decreased their price objective on Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a research note on Thursday, February 13th. Bank Of America (Bofa) decreased their price target 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 cut their price objective on shares of Biogen from $298.00 to $265.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Citigroup decreased their target price on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Finally, Morgan Stanley cut their price target on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a report on Wednesday. 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 an average rating of "Hold" and an average price target of $213.15.

Biogen Stock Performance

BIIB traded up $1.79 during midday trading on Friday, hitting $115.17. 1,618,683 shares of the company were exchanged, compared to its average volume of 1,353,405. The company's 50 day simple moving average is $136.74 and its 200 day simple moving average is $153.74. The firm has a market capitalization of $16.86 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. Biogen Inc. has a 1-year low of $110.04 and a 1-year 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.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its 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 return on equity of 14.98% and a net margin of 16.87%. As a group, sell-side analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 11,318 shares in the company, valued at $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 is available at the SEC website. Insiders own 0.16% of the company's stock.

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.