LSV Asset Management grew its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 464.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,448 shares of the biotechnology company's stock after purchasing an additional 192,948 shares during the quarter. LSV Asset Management owned about 0.16% of Biogen worth $35,852,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 70,368 shares during the period. Geode Capital Management LLC grew its stake 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. raised its position 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 valued at $407,919,000 after buying an additional 2,648,024 shares during the period. Norges Bank purchased a new position in Biogen in the fourth quarter worth approximately $355,569,000. Finally, Invesco Ltd. increased its stake in Biogen by 30.6% during the fourth quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock worth $325,537,000 after acquiring an additional 499,074 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.
Biogen Stock Performance
Shares of NASDAQ:BIIB traded down $1.69 during midday trading on Wednesday, hitting $115.29. The stock had a trading volume of 1,341,085 shares, compared to its average volume of 1,354,173. 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 has a market capitalization of $16.88 billion, a PE ratio of 10.30, a P/E/G ratio of 1.51 and a beta of 0.06. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00. The stock has a 50 day moving average price of $135.71 and a two-hundred day moving average price of $152.96.
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%. As a group, equities analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on BIIB. 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. Citigroup lowered their price objective on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. StockNews.com cut Biogen from a "strong-buy" rating to a "buy" rating in a research note on Saturday, December 28th. Truist Financial decreased their target price on Biogen from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group cut their price target on shares of Biogen from $281.00 to $245.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Biogen presently has a consensus rating of "Hold" and a consensus price target of $213.15.
Read Our Latest Research Report on BIIB
Biogen Profile
(
Free Report)
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.
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