Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 25.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,192,206 shares of the biotechnology company's stock after buying an additional 239,500 shares during the period. Renaissance Technologies LLC owned 0.82% of Biogen worth $182,312,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Janus Henderson Group PLC raised its position in Biogen by 9.0% in the 3rd quarter. Janus Henderson Group PLC now owns 23,029 shares of the biotechnology company's stock valued at $4,462,000 after purchasing an additional 1,900 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Biogen by 1.9% in the third quarter. Stifel Financial Corp now owns 47,554 shares of the biotechnology company's stock valued at $9,218,000 after buying an additional 868 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of Biogen by 45.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 5,270 shares of the biotechnology company's stock worth $1,022,000 after buying an additional 1,638 shares during the period. EP Wealth Advisors LLC acquired a new stake in shares of Biogen during the third quarter worth about $793,000. Finally, iA Global Asset Management Inc. grew its holdings in shares of Biogen by 3.8% during the third quarter. iA Global Asset Management Inc. now owns 14,848 shares of the biotechnology company's stock worth $2,878,000 after buying an additional 545 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

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Biogen Price Performance

Biogen stock traded up $1.79 during mid-day trading on Friday, hitting $115.17. 1,618,683 shares of the company were exchanged, compared to its average volume of 1,353,405. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $238.00. The company has a market capitalization of $16.86 billion, a P/E ratio of 10.29, a PEG ratio of 1.51 and a beta of 0.06. The business's 50 day simple moving average is $136.74 and its two-hundred day simple moving average is $153.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

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, 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%. Analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Transactions at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen 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 completion of the sale, the director now owns 11,318 shares of the company's stock, valued at $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on BIIB shares. HC Wainwright reduced their price objective on Biogen from $300.00 to $241.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Scotiabank cut their price target on Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a research note on Thursday, February 13th. Canaccord Genuity Group lowered their price objective on shares of Biogen from $298.00 to $265.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Needham & Company LLC restated a "hold" rating on shares of Biogen in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group reduced their target price on shares of Biogen from $281.00 to $245.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $213.15.

Biogen 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.