Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Martingale Asset Management L P

Martingale Asset Management L P lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,772 shares of the biotechnology company’s stock after purchasing an additional 1,431 shares during the quarter. Martingale Asset Management L P’s holdings in Biogen were worth $10,811,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Primecap Management Co. CA boosted its holdings in shares of Biogen by 0.7% during the second quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock worth $3,787,543,000 after purchasing an additional 117,578 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Biogen by 1.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock worth $223,438,000 after purchasing an additional 18,905 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Biogen by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after purchasing an additional 12,319 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Biogen by 29.6% during the third 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 during the last quarter. Finally, abrdn plc boosted its holdings in shares of Biogen by 6.2% during the third quarter. abrdn plc now owns 568,510 shares of the biotechnology company’s stock worth $110,123,000 after purchasing an additional 33,333 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BIIB shares. 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 report on Friday, August 2nd. Citigroup started coverage on Biogen in a report on Thursday, November 14th. They issued a “neutral” rating and a $190.00 target price on the stock. Raymond James reiterated a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. HC Wainwright reiterated a “buy” rating and issued a $300.00 target price on shares of Biogen in a report on Thursday, October 31st. Finally, UBS Group reduced their target price on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $257.20.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares of the company’s stock, valued at $1,085,633.52. The trade was a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by corporate insiders.

Biogen Stock Up 0.5 %

Shares of Biogen stock opened at $160.63 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm has a market cap of $23.41 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.51 and a beta of -0.06. Biogen Inc. has a fifty-two week low of $153.62 and a fifty-two week high of $268.30. The business has a 50-day moving average price of $177.86 and a 200 day moving average price of $203.15.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data 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. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $4.36 earnings per share. On average, sell-side analysts forecast 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.