Intech Investment Management LLC Acquires Shares of 9,250 Biogen Inc. (NASDAQ:BIIB)

Intech Investment Management LLC bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, Holdings Channel reports. The institutional investor bought 9,250 shares of the biotechnology company’s stock, valued at approximately $1,415,000.

A number of other institutional investors and hedge funds have also modified their holdings of BIIB. Caprock Group LLC increased its stake in shares of Biogen by 16.3% during the third quarter. Caprock Group LLC now owns 3,118 shares of the biotechnology company’s stock worth $604,000 after purchasing an additional 437 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Biogen during the third quarter worth about $1,427,000. Commerce Bank increased its stake in shares of Biogen by 11.4% during the third quarter. Commerce Bank now owns 9,915 shares of the biotechnology company’s stock worth $1,922,000 after purchasing an additional 1,014 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Biogen by 2.2% during the third quarter. Advisors Asset Management Inc. now owns 6,696 shares of the biotechnology company’s stock worth $1,298,000 after purchasing an additional 147 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Biogen by 29.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 711,184 shares of the biotechnology company’s stock worth $137,856,000 after purchasing an additional 162,511 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insiders Place Their Bets

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were 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 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 is available at this link. 0.16% of the stock is owned by company insiders.

Biogen Price Performance

Biogen stock opened at $140.90 on Friday. The firm has a market cap 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 52-week low of $128.51 and a 52-week high of $238.00. 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 company’s 50 day moving average is $142.16 and its two-hundred day moving average is $162.40.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) 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 expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports 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 for the company in a research note on Thursday, February 13th. StockNews.com cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. BMO Capital Markets dropped their price objective on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. Bank of America reaffirmed a “neutral” rating and set a $178.00 price objective on shares of Biogen in a research note on Tuesday, December 10th. Finally, Stifel Nicolaus cut shares of 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. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $213.33.

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.