Prudential Financial Inc. Acquires 152,992 Shares of Biogen Inc. (NASDAQ:BIIB)

Prudential Financial Inc. raised its holdings in Biogen Inc. (NASDAQ:BIIB) by 36.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 576,276 shares of the biotechnology company’s stock after acquiring an additional 152,992 shares during the quarter. Prudential Financial Inc. owned about 0.40% of Biogen worth $88,124,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BIIB. Larson Financial Group LLC boosted its position in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 141 shares during the last quarter. Lee Danner & Bass Inc. bought a new position in Biogen during the fourth quarter worth about $25,000. OFI Invest Asset Management acquired a new position in shares of Biogen during the 4th quarter worth about $32,000. SRS Capital Advisors Inc. bought a new stake in shares of Biogen in the 4th quarter valued at about $33,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Biogen in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the subject of a number of analyst reports. Bank Of America (Bofa) decreased their price objective on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Royal Bank of Canada decreased their price target on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Wells Fargo & Company dropped their price objective on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Truist Financial decreased their target price on Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, BMO Capital Markets dropped their price target on Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $213.33.

Biogen Stock Up 0.5 %

Biogen stock opened at $141.60 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The company’s 50-day moving average is $141.99 and its 200-day moving average is $161.38. The firm has a market capitalization of $20.73 billion, a PE ratio of 12.65, a P/E/G ratio of 1.51 and a beta of 0.01. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results 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 return on equity of 14.98% and a net margin of 16.87%. Sell-side analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Activity at Biogen

In other Biogen 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 value of $1,314,175.20. Following the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.

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.