Provident Co of the Employees of the Hebrew University LTD Boosts Stock Position in Biogen Inc. (NASDAQ:BIIB)

Provident Co of the Employees of the Hebrew University LTD boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 95.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,059 shares of the biotechnology company’s stock after purchasing an additional 4,416 shares during the period. Biogen comprises approximately 1.6% of Provident Co of the Employees of the Hebrew University LTD’s portfolio, making the stock its 23rd largest holding. Provident Co of the Employees of the Hebrew University LTD’s holdings in Biogen were worth $1,384,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BIIB. Larson Financial Group LLC grew its stake in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after buying an additional 141 shares during the last quarter. OFI Invest Asset Management bought a new position in Biogen in the fourth quarter valued at about $32,000. SRS Capital Advisors Inc. bought a new stake in Biogen during the fourth quarter valued at approximately $33,000. Golden State Wealth Management LLC purchased a new stake in shares of Biogen in the 4th quarter worth $41,000. Finally, Itau Unibanco Holding S.A. increased its position in Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after buying an additional 90 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company lowered their price objective on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. BMO Capital Markets decreased their target price on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research report on Thursday, February 13th. Truist Financial dropped their price objective on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Finally, Canaccord Genuity Group lowered their price objective on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Biogen has a consensus rating of “Hold” and a consensus price target of $213.33.

Biogen Trading Down 0.4 %

Shares of BIIB opened at $139.44 on Monday. The company has a market capitalization of $20.41 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock has a 50-day moving average price of $143.09 and a 200 day moving average price of $164.02. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data 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 net margin of 16.87% and a return on equity of 14.98%. Sell-side analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

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.