Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. raised its holdings in Biogen Inc. (NASDAQ:BIIB) by 3,878.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,273 shares of the biotechnology company’s stock after purchasing an additional 1,241 shares during the period. Meeder Asset Management Inc.’s holdings in Biogen were worth $295,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Leo Wealth LLC acquired a new position in shares of Biogen in the 4th quarter valued at about $2,265,000. Duality Advisers LP bought a new stake in shares of Biogen during the first quarter valued at about $1,290,000. Tocqueville Asset Management L.P. boosted its stake in Biogen by 924.4% during the first quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock valued at $9,962,000 after buying an additional 41,690 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Biogen by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock worth $83,337,000 after purchasing an additional 3,380 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in Biogen by 235.1% during the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after buying an additional 10,425 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Biogen Price Performance

Shares of BIIB stock opened at $195.63 on Friday. The firm has a market cap of $28.50 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.01 and a beta of -0.06. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $269.43. The stock has a 50-day moving average price of $210.52 and a 200 day moving average price of $215.77.

Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, topping the consensus estimate of $4.00 by $1.28. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the company posted $4.02 EPS. Research analysts expect that Biogen Inc. will post 16.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Truist Financial restated a “buy” rating and set a $302.00 price target (down previously from $340.00) on shares of Biogen in a report on Monday, August 5th. Robert W. Baird decreased their price target on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. William Blair restated an “outperform” rating on shares of Biogen in a research note on Wednesday, July 3rd. Piper Sandler reduced their target price on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Barclays decreased their price objective on Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.52.

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.