National Pension Service Purchases 32,914 Shares of Biogen Inc. (NASDAQ:BIIB)

National Pension Service boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 10.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 359,569 shares of the biotechnology company’s stock after purchasing an additional 32,914 shares during the quarter. National Pension Service owned about 0.25% of Biogen worth $69,699,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Plato Investment Management Ltd increased its position in shares of Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 53 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in Biogen in the 2nd quarter worth about $33,000. EntryPoint Capital LLC purchased a new position in Biogen in the 1st quarter worth about $36,000. Versant Capital Management Inc lifted its stake in Biogen by 123.2% during the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 85 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Biogen by 249.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 127 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now owns 5,316 shares of the company’s stock, valued at $1,085,633.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $300.00 target price on shares of Biogen in a report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $270.00 price target on shares of Biogen in a research note on Wednesday, October 30th. Raymond James reaffirmed a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. StockNews.com raised Biogen from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Finally, Robert W. Baird reduced their price target on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Ten research 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $261.58.

Biogen Stock Up 2.0 %

Shares of BIIB opened at $176.93 on Wednesday. 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 business has a fifty day moving average of $191.56 and a 200 day moving average of $209.34. The company has a market cap of $25.78 billion, a PE ratio of 15.98, a P/E/G ratio of 1.65 and a beta of -0.06. Biogen Inc. has a 52-week low of $170.71 and a 52-week high of $268.30.

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