Biogen Inc. (NASDAQ:BIIB) Shares Bought by Everence Capital Management Inc.

Everence Capital Management Inc. boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 26.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000 shares of the biotechnology company’s stock after buying an additional 1,050 shares during the period. Everence Capital Management Inc.’s holdings in Biogen were worth $1,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Biogen by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock valued at $2,468,356,000 after buying an additional 183,285 shares in the last quarter. State Street Corp increased its position in Biogen by 2.8% during the 1st quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company’s stock valued at $1,518,196,000 after buying an additional 197,400 shares in the last quarter. Wellington Management Group LLP increased its position in Biogen by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock valued at $1,381,251,000 after buying an additional 27,951 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Biogen by 49.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company’s stock valued at $580,627,000 after buying an additional 691,843 shares in the last quarter. Finally, Northern Trust Corp increased its position in Biogen by 2.8% during the 3rd quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock valued at $422,276,000 after buying an additional 45,437 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

NASDAQ BIIB opened at $197.01 on Wednesday. The company has a market cap of $28.64 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.87 and a beta of -0.02. The stock’s 50 day simple moving average is $218.13 and its 200-day simple moving average is $236.87. Biogen Inc. has a 1-year low of $194.94 and a 1-year high of $319.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing the consensus estimate of $3.18 by ($0.23). The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same quarter last year, the business earned $4.05 EPS. As a group, equities research analysts anticipate that Biogen Inc. will post 15.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BIIB shares. Robert W. Baird cut their price objective on Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Mizuho cut their price objective on Biogen from $355.00 to $277.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. Wedbush increased their price objective on Biogen from $239.00 to $245.00 and gave the company a “neutral” rating in a report on Monday, February 12th. William Blair reissued an “outperform” rating on shares of Biogen in a report on Monday, April 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $311.00 price objective on shares of Biogen in a report on Tuesday, February 20th. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen currently has a consensus rating of “Moderate Buy” and a consensus price target of $298.96.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 419 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Priya Singhal sold 419 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eric K. Rowinsky purchased 455 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 882 shares of company stock valued at $202,030. 0.60% of the stock is currently owned by insiders.

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.