Provident Co of the Employees of the Hebrew University LTD Increases Stake in Biogen Inc. (NASDAQ:BIIB)

Provident Co of the Employees of the Hebrew University LTD grew its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 95.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,059 shares of the biotechnology company's stock after purchasing an additional 4,416 shares during the quarter. Biogen comprises approximately 1.6% of Provident Co of the Employees of the Hebrew University LTD's investment portfolio, making the stock its 23rd largest position. Provident Co of the Employees of the Hebrew University LTD's holdings in Biogen were worth $1,384,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC boosted its position in shares of Biogen by 3.5% during the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company's stock valued at $320,000 after purchasing an additional 71 shares in the last quarter. Cibc World Markets Corp boosted its holdings in shares of Biogen by 14.2% during the 4th quarter. Cibc World Markets Corp now owns 26,240 shares of the biotechnology company's stock worth $4,013,000 after buying an additional 3,267 shares in the last quarter. Sovereign Investment Advisors LLC acquired a new stake in shares of Biogen during the 4th quarter worth approximately $232,000. Frank Rimerman Advisors LLC acquired a new position in shares of Biogen during the 4th quarter valued at $510,000. Finally, Poinciana Advisors Group LLC bought a new position in Biogen during the fourth quarter worth $295,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Biogen from $192.00 to $157.00 and set an "equal weight" rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group cut their price target on Biogen from $281.00 to $245.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus cut Biogen from a "buy" rating to a "hold" rating and set a $175.00 price objective for the company. in a research note on Monday, December 16th. Bank of America reaffirmed a "neutral" rating and set a $178.00 target price on shares of Biogen in a research report on Tuesday, December 10th. Finally, Scotiabank reduced their price target on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a research report on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $213.33.

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Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction that occurred 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 directly owns 11,318 shares in the company, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.16% of the company's stock.

Biogen Trading Down 0.3 %

BIIB traded down $0.48 on Friday, hitting $140.90. 3,437,611 shares of the company were exchanged, compared to its average volume of 1,246,274. 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 firm has a fifty day simple moving average of $142.32 and a two-hundred day simple moving average of $162.85. The stock has a market capitalization of $20.62 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Sell-side analysts expect that Biogen Inc. will post 15.83 earnings per share 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.