Biogen Inc. (NASDAQ:BIIB) Stock Position Lifted by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. boosted its stake in Biogen Inc. (NASDAQ:BIIB) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,055 shares of the biotechnology company’s stock after buying an additional 353 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Biogen were worth $1,049,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. National Pension Service grew its stake in Biogen by 2.2% in the fourth quarter. National Pension Service now owns 302,317 shares of the biotechnology company’s stock valued at $78,231,000 after purchasing an additional 6,375 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Biogen in the 4th quarter valued at approximately $1,354,000. Apollon Wealth Management LLC increased its holdings in Biogen by 397.4% in the fourth quarter. Apollon Wealth Management LLC now owns 4,994 shares of the biotechnology company’s stock worth $1,292,000 after buying an additional 3,990 shares during the last quarter. Machina Capital S.A.S. raised its position in Biogen by 96.2% during the fourth quarter. Machina Capital S.A.S. now owns 1,976 shares of the biotechnology company’s stock valued at $511,000 after acquiring an additional 969 shares in the last quarter. Finally, Maryland State Retirement & Pension System boosted its holdings in Biogen by 1.9% in the fourth quarter. Maryland State Retirement & Pension System now owns 11,211 shares of the biotechnology company’s stock worth $2,901,000 after purchasing an additional 210 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

NASDAQ:BIIB traded up $3.03 during trading hours on Thursday, reaching $222.75. The company had a trading volume of 754,463 shares, compared to its average volume of 1,197,173. The firm has a market capitalization of $32.43 billion, a PE ratio of 27.43, a PEG ratio of 2.21 and a beta of -0.01. The stock has a 50-day moving average of $211.85 and a two-hundred day moving average of $231.09. Biogen Inc. has a one year low of $189.44 and a one year high of $319.76. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41.

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

Analysts Set New Price Targets

BIIB has been the subject of several recent analyst reports. HC Wainwright decreased their price target on Biogen from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company downgraded Biogen from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $315.00 to $240.00 in a report on Wednesday, February 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $364.00 price target on shares of Biogen in a research report on Tuesday, March 5th. HSBC upped their price objective on shares of Biogen from $339.00 to $342.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, BMO Capital Markets cut their target price on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $290.92.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction 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 transaction, the insider now owns 4,516 shares in the company, valued at approximately $1,081,356.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Biogen news, insider Priya Singhal sold 419 shares of the stock in a transaction 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 transaction, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric K. Rowinsky bought 455 shares of the stock in a transaction dated Thursday, February 15th. The stock was purchased at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders have sold a total of 882 shares of company stock worth $202,030 in the last three months. Insiders own 0.60% of the company’s stock.

Biogen 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.