iA Global Asset Management Inc. Acquires 858 Shares of Biogen Inc. (NASDAQ:BIIB)

iA Global Asset Management Inc. grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,706 shares of the biotechnology company’s stock after buying an additional 858 shares during the period. iA Global Asset Management Inc.’s holdings in Biogen were worth $2,402,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BIIB. Caprock Group LLC boosted its stake in Biogen by 16.3% in the 3rd quarter. Caprock Group LLC now owns 3,118 shares of the biotechnology company’s stock worth $604,000 after purchasing an additional 437 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Biogen in the 3rd quarter worth about $1,427,000. Commerce Bank boosted its stake in Biogen by 11.4% in the 3rd quarter. Commerce Bank now owns 9,915 shares of the biotechnology company’s stock worth $1,922,000 after purchasing an additional 1,014 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Biogen by 2.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,696 shares of the biotechnology company’s stock worth $1,298,000 after purchasing an additional 147 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Biogen by 29.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 711,184 shares of the biotechnology company’s stock worth $137,856,000 after purchasing an additional 162,511 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Insiders Place Their Bets

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Biogen Trading Down 0.3 %

Biogen stock opened at $140.90 on Friday. The firm has a 50 day moving average of $142.16 and a 200 day moving average of $162.40. The firm has a market capitalization of $20.62 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BIIB. HC Wainwright dropped their price target on shares of Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Morgan Stanley decreased their target price on Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Bank Of America (Bofa) decreased their target price on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Sanford C. Bernstein assumed coverage on Biogen in a research report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 target price for the company. Finally, Wells Fargo & Company decreased their target price on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $213.33.

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.