MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Makes New $100,000 Investment in Biogen Inc. (NASDAQ:BIIB)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 518 shares of the biotechnology company’s stock, valued at approximately $100,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Plato Investment Management Ltd grew its holdings in shares of Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 53 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of Biogen during the first quarter valued at approximately $27,000. Itau Unibanco Holding S.A. bought a new stake in Biogen during the second quarter worth approximately $33,000. Versant Capital Management Inc lifted its position in Biogen by 123.2% in the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 85 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Biogen during the 1st quarter valued at $36,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 431 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BIIB shares. Mizuho cut their price objective on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Wedbush reduced their price objective on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. Barclays lowered their price objective on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird cut their target price on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Finally, Truist Financial restated a “buy” rating and issued a $302.00 price target (down previously from $340.00) on shares of Biogen in a research report on Monday, August 5th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $273.78.

Biogen Stock Performance

Shares of BIIB stock opened at $191.56 on Tuesday. Biogen Inc. has a fifty-two week low of $181.31 and a fifty-two week high of $269.43. The stock’s 50-day moving average is $198.00 and its two-hundred day moving average is $211.53. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. The firm has a market cap of $27.89 billion, a P/E ratio of 23.92, a PEG ratio of 1.87 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.00 by $1.28. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the firm earned $4.02 earnings per share. Analysts predict that Biogen Inc. will post 16.13 earnings per share for the current fiscal 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.