Charles Schwab Investment Management Inc. Buys 12,319 Shares of Biogen Inc. (NASDAQ:BIIB)

Charles Schwab Investment Management Inc. increased its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 913,029 shares of the biotechnology company's stock after purchasing an additional 12,319 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.63% of Biogen worth $176,982,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BIIB. Principal Financial Group Inc. grew its holdings in shares of Biogen by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company's stock worth $32,687,000 after acquiring an additional 5,270 shares during the last quarter. Arlington Partners LLC boosted its holdings in shares of Biogen by 34.3% in the third quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company's stock worth $3,724,000 after buying an additional 4,902 shares during the period. Cetera Investment Advisers increased its position in shares of Biogen by 235.1% in the first quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company's stock worth $3,204,000 after acquiring an additional 10,425 shares in the last quarter. National Pension Service raised its holdings in shares of Biogen by 10.1% during the third quarter. National Pension Service now owns 359,569 shares of the biotechnology company's stock valued at $69,699,000 after acquiring an additional 32,914 shares during the period. Finally, Tidal Investments LLC grew its position in Biogen by 99.1% during the 1st quarter. Tidal Investments LLC now owns 10,211 shares of the biotechnology company's stock worth $2,202,000 after purchasing an additional 5,082 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Trading Down 0.1 %

NASDAQ:BIIB traded down $0.11 during trading hours on Friday, hitting $157.90. 1,703,784 shares of the stock were exchanged, compared to its average volume of 1,772,523. The company has a market capitalization of $23.01 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.49 and a beta of -0.06. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The company's 50 day moving average is $181.85 and its two-hundred day moving average is $205.22. Biogen Inc. has a twelve month low of $153.62 and a twelve month high of $268.30.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $4.36 earnings per share. On average, sell-side analysts anticipate that Biogen Inc. will post 16.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now owns 5,316 shares of the company's stock, valued at approximately $1,085,633.52. This represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BIIB shares. Wolfe Research assumed coverage on Biogen in a research note on Friday, November 15th. They set a "peer perform" rating on the stock. Citigroup assumed coverage on shares of Biogen in a research report on Thursday, November 14th. They issued a "neutral" rating and a $190.00 target price for the company. UBS Group lowered their price target on shares of Biogen from $234.00 to $202.00 and set a "neutral" rating on the stock in a report on Thursday, October 3rd. Raymond James reaffirmed a "market perform" rating on shares of Biogen in a research note on Thursday, October 10th. Finally, Wedbush decreased their price objective on shares of Biogen from $210.00 to $205.00 and set a "neutral" rating for the company in a report on Monday, September 23rd. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $257.20.

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.