Price T Rowe Associates Inc. MD boosted its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,933,716 shares of the biotechnology company's stock after buying an additional 21,170 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.33% of Biogen worth $295,705,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Virtu Financial LLC bought a new stake in Biogen during the third quarter worth $4,111,000. World Investment Advisors LLC bought a new stake in shares of Biogen during the 3rd quarter worth $1,118,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Biogen during the 3rd quarter worth $150,000. Tidal Investments LLC boosted its holdings in shares of Biogen by 13.6% in the 3rd quarter. Tidal Investments LLC now owns 9,012 shares of the biotechnology company's stock worth $1,747,000 after buying an additional 1,082 shares during the last quarter. Finally, Synovus Financial Corp grew its position in Biogen by 6.0% during the third quarter. Synovus Financial Corp now owns 14,462 shares of the biotechnology company's stock valued at $2,803,000 after buying an additional 821 shares during the period. 87.93% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
BIIB has been the subject of a number of research reports. HC Wainwright reduced their target price on shares of Biogen from $300.00 to $241.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Citigroup reduced their price objective on Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group dropped their price target on Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a report on Friday. Finally, BMO Capital Markets lowered their price objective on Biogen from $156.00 to $139.00 and set a "market perform" rating on the stock in a research note on Thursday, February 13th. Twenty research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $201.93.
Check Out Our Latest Analysis on BIIB
Biogen Price Performance
Shares of NASDAQ BIIB traded up $1.05 during trading hours on Tuesday, reaching $120.17. 1,003,166 shares of the stock traded hands, compared to its average volume of 1,348,887. The company has a market capitalization of $17.59 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. The company's 50-day simple moving average is $132.12 and its two-hundred day simple moving average is $148.38. 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 Inc. has a 52-week low of $110.04 and a 52-week high of $238.00.
Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.
Insider Transactions at Biogen
In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm'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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.16% of the company's stock.
Biogen Profile
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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.
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