Franklin Resources Inc. Has $60.31 Million Holdings in Biogen Inc. (NASDAQ:BIIB)

Franklin Resources Inc. boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 5.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 394,391 shares of the biotechnology company's stock after buying an additional 19,644 shares during the quarter. Franklin Resources Inc. owned 0.27% of Biogen worth $60,310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Inspire Trust Co. N.A. boosted its holdings in Biogen by 58.5% in the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company's stock valued at $2,113,000 after purchasing an additional 4,025 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Biogen by 0.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company's stock worth $6,646,000 after acquiring an additional 111 shares during the period. Centre Asset Management LLC raised its position in Biogen by 7.7% during the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company's stock valued at $7,880,000 after acquiring an additional 3,698 shares in the last quarter. Amundi lifted its holdings in Biogen by 35.6% in the fourth 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. Finally, Nordea Investment Management AB boosted its position in Biogen by 48.0% in the 4th quarter. Nordea Investment Management AB now owns 117,963 shares of the biotechnology company's stock worth $17,901,000 after purchasing an additional 38,283 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the 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 sale, the director now directly owns 11,318 shares of the company's stock, valued at $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.16% of the company's stock.

Biogen Stock Down 5.9 %

NASDAQ:BIIB traded down $7.73 during mid-day trading on Friday, reaching $122.98. The stock had a trading volume of 3,089,525 shares, compared to its average volume of 1,324,951. 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 stock has a market cap of $18.00 billion, a P/E ratio of 10.99, a PEG ratio of 1.51 and a beta of 0.01. The business's 50 day moving average is $140.68 and its 200 day moving average is $157.90. Biogen Inc. has a fifty-two week low of $122.77 and a fifty-two week high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last released 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 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.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Truist Financial decreased their price objective on shares of Biogen from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Piper Sandler reiterated a "neutral" rating and issued a $135.00 price objective (down from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Jefferies Financial Group cut Biogen from a "buy" rating to a "hold" rating and reduced their target price for the company from $250.00 to $180.00 in a report on Monday, December 9th. Morgan Stanley lowered their price target on Biogen from $192.00 to $157.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Finally, Sanford C. Bernstein initiated coverage on Biogen in a research note on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 price objective for the company. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Biogen currently has a consensus rating of "Hold" and an average price target of $213.33.

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.