Biogen Inc. (NASDAQ:BIIB) Shares Bought by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co lifted its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 33.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,000 shares of the biotechnology company's stock after purchasing an additional 6,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Biogen were worth $3,670,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Biogen by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company's stock worth $2,561,238,000 after buying an additional 70,368 shares during the last quarter. State Street Corp raised 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 valued at $1,423,747,000 after buying an additional 248,942 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Biogen by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company's stock valued at $563,709,000 after buying an additional 82,456 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock worth $407,919,000 after buying an additional 2,648,024 shares during the last quarter. Finally, Norges Bank acquired a new stake in Biogen during the fourth quarter worth about $355,569,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction 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 transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BIIB. BMO Capital Markets dropped their price objective on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating on the stock in a research note on Thursday, February 13th. William Blair restated an "outperform" rating on shares of Biogen in a research report on Monday, January 13th. Stifel Nicolaus downgraded Biogen from a "buy" rating to a "hold" rating and set a $175.00 price target on the stock. in a research report on Monday, December 16th. Morgan Stanley reduced their target price on Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Sanford C. Bernstein started coverage on shares of Biogen in a report on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 price target for the company. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Biogen has a consensus rating of "Hold" and a consensus target price of $213.15.

Biogen Trading Up 1.4 %

Shares of BIIB traded up $1.56 during midday trading on Friday, hitting $114.94. 395,424 shares of the stock were exchanged, compared to its average volume of 1,641,568. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock has a fifty day simple moving average of $137.29 and a 200 day simple moving average of $154.53. The firm has a market cap of $16.82 billion, a P/E ratio of 10.27, a P/E/G ratio of 1.51 and a beta of 0.06.

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