Vinva Investment Management Ltd Buys Shares of 1,874 Biogen Inc. (NASDAQ:BIIB)

Vinva Investment Management Ltd acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,874 shares of the biotechnology company's stock, valued at approximately $281,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC grew its holdings in 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 buying an additional 71 shares in the last quarter. Quent Capital LLC grew its stake in Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock valued at $46,000 after acquiring an additional 72 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in 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 acquiring an additional 77 shares during the period. Principal Securities Inc. lifted its stake in Biogen by 30.1% in the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock worth $52,000 after purchasing an additional 78 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Biogen by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company's stock worth $767,000 after purchasing an additional 79 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BIIB. Canaccord Genuity Group decreased their price target on shares of Biogen from $298.00 to $265.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. 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. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a research report on Thursday, February 13th. Bank Of America (Bofa) decreased their price objective on shares of Biogen from $178.00 to $163.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Finally, Morgan Stanley dropped their target price on shares of Biogen from $192.00 to $157.00 and set an "equal weight" 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $213.33.

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Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the 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 sale, the director now directly owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Biogen Stock Down 1.7 %

Shares of NASDAQ:BIIB traded down $2.44 during midday trading on Tuesday, reaching $139.16. The company's stock had a trading volume of 1,766,176 shares, compared to its average volume of 1,253,588. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $141.91 and a 200-day moving average of $160.95. The firm has a market capitalization of $20.37 billion, a P/E ratio of 12.44, a PEG 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 announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping 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%. On average, research analysts anticipate 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.