Biogen Inc. (NASDAQ:BIIB) Shares Acquired by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG increased its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 37.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,128 shares of the biotechnology company's stock after buying an additional 2,767 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Biogen were worth $1,549,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of BIIB. Inspire Trust Co. N.A. grew its position 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 acquiring an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company's stock valued at $6,646,000 after purchasing an additional 111 shares in the last quarter. Centre Asset Management LLC increased its stake in Biogen by 7.7% during the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company's stock worth $7,880,000 after buying an additional 3,698 shares during the period. Amundi lifted its holdings in Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company's stock worth $183,461,000 after buying an additional 319,478 shares in the last quarter. 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 valued at $17,901,000 after buying an additional 38,283 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Biogen

In other 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 value of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Biogen Stock Performance

Shares of NASDAQ BIIB traded down $7.73 during midday trading on Friday, hitting $122.98. 3,089,525 shares of the company's stock were exchanged, compared to its average volume of 1,323,475. Biogen Inc. has a twelve month low of $122.77 and a twelve month high of $238.00. The firm 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 stock's 50 day moving average price is $140.68 and its 200-day moving average price is $157.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly 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 return on equity of 14.98% and a net margin of 16.87%. Equities research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BIIB. Scotiabank cut their price target on Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a research note on Thursday, February 13th. Sanford C. Bernstein initiated coverage on Biogen in a research report on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 target price on the stock. StockNews.com downgraded shares of Biogen from a "strong-buy" rating to a "buy" rating in a research report on Saturday, December 28th. Piper Sandler reaffirmed a "neutral" rating and issued a $135.00 price target (down from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Finally, BMO Capital Markets decreased their price objective on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating for the company in a report on Thursday, February 13th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $213.33.

About Biogen

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.