Vinva Investment Management Ltd Purchases New Position in Biogen Inc. (NASDAQ:BIIB)

Vinva Investment Management Ltd purchased a new stake in Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,874 shares of the biotechnology company’s stock, valued at approximately $281,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Inspire Trust Co. N.A. grew its position in shares of Biogen by 58.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after purchasing an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after purchasing an additional 111 shares in the last quarter. Centre Asset Management LLC grew its position in shares of Biogen by 7.7% during the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after purchasing an additional 3,698 shares in the last quarter. Amundi grew its position in shares of Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after purchasing an additional 319,478 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after purchasing an additional 12,319 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction on 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 through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Biogen Trading Down 0.3 %

Shares of NASDAQ BIIB opened at $140.90 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00. The firm has a 50 day moving average price of $142.16 and a two-hundred day moving average price of $162.40. The stock has a market cap of $20.62 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on BIIB shares. HC Wainwright decreased their target price on shares of Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Canaccord Genuity Group decreased their target price 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. Truist Financial cut their price target on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 13th. BMO Capital Markets cut their price target on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a report on Thursday, February 13th. Finally, Citigroup cut their price target on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Biogen presently has an average rating of “Hold” and a consensus price target of $213.33.

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.