Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 79.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,135 shares of the biotechnology company's stock after purchasing an additional 8,917 shares during the period. Edgestream Partners L.P.'s holdings in Biogen were worth $3,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Biogen by 3.5% during the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company's stock worth $1,423,747,000 after purchasing an additional 248,942 shares during the period. Geode Capital Management LLC boosted its holdings in Biogen by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company's stock worth $698,062,000 after buying an additional 47,055 shares in the last quarter. Pacer Advisors Inc. grew its position 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 valued at $407,919,000 after buying an additional 2,648,024 shares during the period. RA Capital Management L.P. increased its holdings in Biogen by 20.6% in the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company's stock valued at $229,595,000 after buying an additional 202,317 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Biogen by 1.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company's stock worth $223,438,000 after acquiring an additional 18,905 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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Biogen Trading Down 4.7 %

BIIB stock traded down $7.03 during mid-day trading on Tuesday, hitting $143.68. 484,247 shares of the company were exchanged, compared to its average volume of 1,521,622. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The firm has a market capitalization of $21.03 billion, a P/E ratio of 12.83, a PEG ratio of 1.51 and a beta of 0.01. The business has a fifty day simple moving average of $143.99 and a 200-day simple moving average of $165.81. 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 (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping analysts' consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, equities research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Activity

In related 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 completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BIIB. BMO Capital Markets dropped their target price on Biogen from $156.00 to $139.00 and set a "market perform" rating on the stock in a research report on Thursday, February 13th. Bank Of America (Bofa) cut their price objective on Biogen from $178.00 to $163.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Sanford C. Bernstein began coverage on Biogen in a research report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 target price on the stock. William Blair reissued an "outperform" rating on shares of Biogen in a research note on Monday, January 13th. Finally, Robert W. Baird upped their price objective on shares of Biogen from $294.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, November 15th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price 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.