Generali Investments Management Co LLC Makes New $410,000 Investment in Biogen Inc. (NASDAQ:BIIB)

Generali Investments Management Co LLC 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 fund bought 2,678 shares of the biotechnology company's stock, valued at approximately $410,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp increased its position 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 valued at $1,423,747,000 after purchasing an additional 248,942 shares during the period. Geode Capital Management LLC boosted its stake in shares of Biogen by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company's stock worth $698,062,000 after acquiring an additional 47,055 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of 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. Amundi boosted its position in shares of Biogen by 35.6% in the fourth 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 during the period. Finally, RA Capital Management L.P. boosted its position in shares of 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 worth $229,595,000 after buying an additional 202,317 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In related news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction 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 transaction, the director now owns 11,318 shares of the company's stock, 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 Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BIIB shares. Piper Sandler restated a "neutral" rating and set a $135.00 target price (down from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Citigroup decreased their price objective on Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Royal Bank of Canada decreased their price objective on Biogen from $231.00 to $225.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company decreased their price objective on Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday, February 13th. Finally, The Goldman Sachs Group decreased their price objective on Biogen from $281.00 to $245.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $213.33.

Biogen Stock Down 0.3 %

Shares of Biogen stock traded down $0.48 during trading hours on Friday, reaching $140.90. 3,437,611 shares of the company's stock were exchanged, compared to its average volume of 1,247,618. The company has a 50 day moving average of $142.16 and a two-hundred day moving average of $162.11. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. 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 stock has a market cap of $20.62 billion, a P/E ratio of 12.59, 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 data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS 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, sell-side analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.