National Pension Service Grows Position in Biogen Inc. (NASDAQ:BIIB)

National Pension Service raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 10.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 359,569 shares of the biotechnology company’s stock after purchasing an additional 32,914 shares during the period. National Pension Service’s holdings in Biogen were worth $69,699,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of BIIB. Plato Investment Management Ltd raised its stake in Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after buying an additional 53 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Biogen in the 2nd quarter worth $33,000. EntryPoint Capital LLC purchased a new stake in shares of Biogen during the 1st quarter worth $36,000. Versant Capital Management Inc boosted its position in Biogen by 123.2% during the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 85 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Biogen by 249.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

BIIB has been the topic of a number of analyst reports. Royal Bank of Canada cut their price objective on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Barclays reduced their price target on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company reduced their target price on Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. HC Wainwright reissued a “buy” rating and issued a $300.00 price target on shares of Biogen in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday. Ten investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $261.58.

Biogen Trading Up 2.0 %

Shares of Biogen stock opened at $176.93 on Wednesday. The company has a 50-day moving average of $191.56 and a two-hundred day moving average of $209.34. The stock has a market cap of $25.78 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.65 and a beta of -0.06. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12-month low of $170.71 and a 12-month high of $268.30.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the company posted $4.36 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, research analysts anticipate that Biogen Inc. will post 16.4 EPS for the current fiscal year.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 431 shares of the firm’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 sale, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

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.