Vanguard Group Inc. Purchases 70,368 Shares of Biogen Inc. (NASDAQ:BIIB)

Vanguard Group Inc. increased its holdings in Biogen Inc. (NASDAQ:BIIB) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,748,875 shares of the biotechnology company’s stock after purchasing an additional 70,368 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of Biogen worth $2,561,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BIIB. State Street Corp grew its position in shares of Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after buying an additional 248,942 shares during the last quarter. Geode Capital Management LLC lifted its stake in Biogen by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after acquiring an additional 47,055 shares during the period. Pacer Advisors Inc. boosted its holdings in Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after acquiring an additional 2,648,024 shares in the last quarter. Amundi raised its holdings in Biogen by 35.6% in 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, RA Capital Management L.P. raised its holdings in Biogen by 20.6% in the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after purchasing an additional 202,317 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Down 1.7 %

BIIB opened at $139.16 on Wednesday. The stock has a market capitalization of $20.37 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.51 and a beta of 0.01. The firm has a 50 day moving average price of $141.91 and a 200-day moving average price of $160.95. Biogen Inc. has a twelve month low of $128.51 and a twelve month 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.

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

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s 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 transaction, the director now owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BIIB. Scotiabank decreased their price target on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. William Blair reissued an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Bank of America restated a “neutral” rating and issued a $178.00 target price on shares of Biogen in a research note on Tuesday, December 10th. Truist Financial reduced their price target on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a research report on Monday, December 16th. Seventeen research 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.com, Biogen currently has an average rating of “Hold” and a consensus target price 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.