Biogen Inc. (NASDAQ:BIIB) Shares Bought by Bridgewater Associates LP

Bridgewater Associates LP boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 339.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,104 shares of the biotechnology company’s stock after acquiring an additional 55,688 shares during the period. Bridgewater Associates LP’s holdings in Biogen were worth $13,977,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BIIB. International Assets Investment Management LLC lifted its holdings in Biogen by 19,722.9% in the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after purchasing an additional 357,181 shares during the period. Mizuho Securities USA LLC lifted its stake in shares of Biogen by 2,715.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock worth $61,253,000 after acquiring an additional 304,778 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of 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 acquiring an additional 162,511 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Biogen by 0.7% in the second quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock valued at $3,787,543,000 after acquiring an additional 117,578 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Biogen during the first quarter valued at approximately $22,939,000. Institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on BIIB shares. UBS Group decreased their price target on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Citigroup initiated coverage on Biogen in a research note on Thursday, November 14th. They set a “neutral” rating and a $190.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Scotiabank reduced their price objective on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $285.00 to $204.00 in a report on Thursday, October 31st. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Biogen presently has an average rating of “Moderate Buy” and an average target price of $257.20.

Insider Activity

In other news, insider Priya Singhal sold 431 shares of the stock in a transaction 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 transaction, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. This represents a 7.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Biogen Stock Up 1.4 %

BIIB stock opened at $159.83 on Thursday. The company has a 50 day moving average of $179.47 and a two-hundred day moving average of $203.91. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12-month low of $153.62 and a 12-month high of $268.30. The company has a market cap of $23.29 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.50 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the company earned $4.36 earnings per share. Biogen’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Biogen Inc. will post 16.44 earnings per share for the current fiscal year.

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.