American Assets Inc. Invests $388,000 in Biogen Inc. (NASDAQ:BIIB)

American Assets Inc. bought a new position in Biogen Inc. (NASDAQ:BIIB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,000 shares of the biotechnology company’s stock, valued at approximately $388,000. Biogen comprises about 0.1% of American Assets Inc.’s investment portfolio, making the stock its 17th largest position.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Biogen by 15.0% in the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock valued at $3,573,075,000 after acquiring an additional 2,163,068 shares in the last quarter. Primecap Management Co. CA boosted its stake in Biogen by 0.7% in the 2nd 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 period. Price T Rowe Associates Inc. MD grew its holdings in Biogen by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock valued at $342,772,000 after buying an additional 81,283 shares in the last quarter. RA Capital Management L.P. lifted its holdings in shares of Biogen by 39.0% in the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock worth $159,723,000 after buying an additional 207,835 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Biogen by 27.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 570,533 shares of the biotechnology company’s stock valued at $123,024,000 after acquiring an additional 122,101 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Down 0.5 %

Shares of NASDAQ BIIB traded down $0.94 during trading hours on Tuesday, reaching $171.09. The stock had a trading volume of 62,709 shares, compared to its average volume of 1,149,655. The business’s fifty day moving average price is $189.06 and its two-hundred day moving average price is $208.65. The firm has a market cap of $24.93 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of 1.64 and a beta of -0.06. Biogen Inc. has a 52-week low of $170.50 and a 52-week high of $268.30. 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 (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the company earned $4.36 EPS. The business’s revenue was down 2.5% compared to the same quarter last year. Analysts expect that Biogen Inc. will post 16.4 EPS for the current fiscal year.

Insider Activity

In related news, insider Priya Singhal sold 431 shares of Biogen 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 transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at $1,085,633.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

BIIB has been the topic of a number of research analyst reports. Wedbush decreased their target price on Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. Robert W. Baird decreased their price objective on Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. TD Cowen cut their target price on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Mizuho decreased their price target on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $292.00 price objective on shares of Biogen in a research note on Monday, September 9th. Ten analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $261.58.

Biogen Company 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.