Massachusetts Financial Services Co. MA Grows Stake in Biogen Inc. (NASDAQ:BIIB)

Massachusetts Financial Services Co. MA lifted its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 732,376 shares of the biotechnology company's stock after purchasing an additional 21,192 shares during the period. Massachusetts Financial Services Co. MA owned 0.50% of Biogen worth $111,995,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC increased its stake in Biogen by 3.5% in the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company's stock valued at $320,000 after acquiring an additional 71 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock worth $46,000 after buying an additional 72 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company's stock worth $75,000 after buying an additional 77 shares during the last quarter. Principal Securities Inc. boosted its stake in Biogen by 30.1% in the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock valued at $52,000 after buying an additional 78 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Biogen by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company's stock valued at $767,000 after acquiring an additional 79 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. 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 objective for the company. Wells Fargo & Company decreased their price target on shares of Biogen from $165.00 to $140.00 and set an "equal weight" rating for the company in a research report on Thursday, February 13th. 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. Argus downgraded Biogen from a "buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, William Blair reiterated an "outperform" rating on shares of Biogen in a research report on Monday, January 13th. Eighteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $213.15.

Insider Buying and Selling at Biogen

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

Biogen Price Performance

Shares of BIIB traded down $8.93 during midday trading on Thursday, hitting $111.56. 808,799 shares of the company traded hands, compared to its average volume of 1,342,657. The stock has a 50-day moving average of $137.86 and a 200-day moving average of $155.09. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The firm has a market cap of $16.33 billion, a P/E ratio of 9.96, a PEG ratio of 1.51 and a beta of 0.06. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly 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 net margin of 16.87% and a return on equity of 14.98%. As a group, sell-side analysts predict 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.