iA Global Asset Management Inc. Buys 858 Shares of Biogen Inc. (NASDAQ:BIIB)

iA Global Asset Management Inc. boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,706 shares of the biotechnology company’s stock after buying an additional 858 shares during the quarter. iA Global Asset Management Inc.’s holdings in Biogen were worth $2,402,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Signaturefd LLC grew its position in Biogen by 3.5% during the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock valued at $320,000 after buying an additional 71 shares during the period. Quent Capital LLC grew its position in Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 72 shares during the period. TD Private Client Wealth LLC grew its position in Biogen by 25.0% during the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 77 shares during the period. Principal Securities Inc. lifted its holdings in Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 78 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Biogen by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock valued at $767,000 after purchasing an additional 79 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Activity at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BIIB has been the topic of several recent research reports. Morgan Stanley dropped their price objective on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a 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 on the stock in a report on Thursday, February 13th. Bank Of America (Bofa) dropped their price objective on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Canaccord Genuity Group dropped their price objective on shares of Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $135.00 price objective (down from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Biogen has an average rating of “Hold” and a consensus target price of $213.33.

Biogen Stock Performance

NASDAQ:BIIB opened at $140.90 on Friday. The stock has a market cap of $20.62 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The firm’s fifty day simple moving average is $142.16 and its 200 day simple moving average is $162.40. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating 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%. As a group, research analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

About Biogen

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.