16,195 Shares in Biogen Inc. (NASDAQ:BIIB) Purchased by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR bought a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 16,195 shares of the biotechnology company's stock, valued at approximately $2,477,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. grew its holdings in Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock worth $407,919,000 after acquiring an additional 2,648,024 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Biogen by 977.9% during the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company's stock valued at $163,083,000 after purchasing an additional 967,523 shares in the last quarter. Amundi increased its holdings in Biogen by 35.6% during the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company's stock valued at $183,461,000 after buying an additional 319,478 shares during the period. Erste Asset Management GmbH purchased a new position in Biogen during the third quarter valued at approximately $55,826,000. Finally, State Street Corp raised its stake in Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company's stock worth $1,423,747,000 after buying an additional 248,942 shares in the last quarter. Institutional investors own 87.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BIIB shares. Stifel Nicolaus lowered Biogen from a "buy" rating to a "hold" rating and set a $175.00 price target for the company. in a research report on Monday, December 16th. Sanford C. Bernstein started coverage on shares of Biogen in a research report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 price target for the company. Truist Financial cut their price objective on shares of Biogen from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Royal Bank of Canada decreased their target price on shares of Biogen from $231.00 to $225.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Finally, Bank Of America (Bofa) cut their price target on shares of Biogen from $178.00 to $163.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Biogen has a consensus rating of "Hold" and an average price target of $213.33.

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Insider Transactions at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the firm'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 transaction of $1,314,175.20. Following the completion of the sale, the director now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% of the company's stock.

Biogen Price Performance

BIIB stock traded up $0.70 during mid-day trading on Monday, reaching $141.60. The company's stock had a trading volume of 1,829,961 shares, compared to its average volume of 1,249,949. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The company's 50 day moving average is $142.16 and its two-hundred day moving average is $161.81. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. The stock has a market cap of $20.73 billion, a PE ratio of 12.65, a P/E/G ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating 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%. Equities research analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

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.