Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc boosted its stake in Biogen Inc. (NASDAQ:BIIB) by 27.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,581 shares of the biotechnology company’s stock after buying an additional 7,505 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Biogen were worth $8,017,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Biogen by 18.2% in the fourth quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock valued at $3,728,185,000 after acquiring an additional 2,218,744 shares in the last quarter. FIL Ltd boosted its position in Biogen by 936.4% during the fourth quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock worth $169,883,000 after acquiring an additional 593,158 shares during the last quarter. First Trust Advisors LP grew its stake in Biogen by 141.0% in the 4th quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock worth $252,898,000 after acquiring an additional 571,795 shares during the period. Van ECK Associates Corp raised its holdings in Biogen by 22.2% in the 1st quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock valued at $374,623,000 after acquiring an additional 316,144 shares during the last quarter. Finally, RA Capital Management L.P. lifted its stake in shares of Biogen by 39.0% during the 1st quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock worth $159,723,000 after purchasing an additional 207,835 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $285.00 target price on shares of Biogen in a research note on Tuesday. Wells Fargo & Company cut their price objective on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Piper Sandler lowered their target price on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Truist Financial reaffirmed a “buy” rating and set a $302.00 price target (down previously from $340.00) on shares of Biogen in a research report on Monday, August 5th. Finally, Barclays lowered their price objective on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $275.30.

Biogen Stock Down 0.9 %

BIIB stock opened at $194.12 on Wednesday. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. The firm has a 50 day simple moving average of $206.18 and a 200-day simple moving average of $214.61. The company has a market capitalization of $28.26 billion, a P/E ratio of 24.23, a PEG ratio of 2.01 and a beta of -0.06. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $269.43.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.00 by $1.28. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the business earned $4.02 EPS. On average, equities research analysts predict that Biogen Inc. will post 16.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by company insiders.

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.