National Bank of Canada FI Grows Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

National Bank of Canada FI raised its stake in Biogen Inc. (NASDAQ:BIIB) by 72.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 201,275 shares of the biotechnology company’s stock after buying an additional 84,284 shares during the period. National Bank of Canada FI owned about 0.14% of Biogen worth $53,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. TCG Advisory Services LLC bought a new position in shares of Biogen during the 4th quarter worth approximately $218,000. AJOVista LLC acquired a new position in Biogen during the 4th quarter valued at approximately $201,000. Summit Global Investments acquired a new position in Biogen during the 4th quarter valued at approximately $1,575,000. Natixis Advisors L.P. increased its stake in Biogen by 2.4% during the 4th quarter. Natixis Advisors L.P. now owns 24,166 shares of the biotechnology company’s stock valued at $6,253,000 after purchasing an additional 565 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its stake in Biogen by 10.0% during the 4th quarter. First Trust Direct Indexing L.P. now owns 1,841 shares of the biotechnology company’s stock valued at $476,000 after purchasing an additional 167 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of recent analyst reports. Bank Of America (Bofa) cut their price target on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Monday, February 12th. Canaccord Genuity Group cut their price objective on shares of Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Wedbush increased their price objective on shares of Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. cut their price objective on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Finally, HSBC increased their price objective on shares of Biogen from $339.00 to $342.00 and gave the stock a “buy” rating in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Biogen currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.92.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 419 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the sale, the insider now directly owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Eric K. Rowinsky bought 455 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Priya Singhal sold 419 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the sale, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. Insiders have sold 882 shares of company stock valued at $202,030 over the last 90 days. 0.60% of the stock is owned by insiders.

Biogen Trading Up 2.2 %

Shares of Biogen stock traded up $4.74 during mid-day trading on Monday, hitting $222.25. The stock had a trading volume of 627,520 shares, compared to its average volume of 1,200,730. The firm has a market cap of $32.36 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 2.21 and a beta of -0.01. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average of $212.00 and a two-hundred day moving average of $231.62. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $319.76.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the firm earned $3.40 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. Sell-side analysts forecast that Biogen Inc. will post 15.6 earnings per share for the current 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.