Canada Post Corp Registered Pension Plan Acquires Shares of 9,718 Biogen Inc. (NASDAQ:BIIB)

Canada Post Corp Registered Pension Plan bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,718 shares of the biotechnology company's stock, valued at approximately $1,486,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Inspire Trust Co. N.A. lifted its holdings in Biogen by 58.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company's stock valued at $2,113,000 after purchasing an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Biogen by 0.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company's stock worth $6,646,000 after acquiring an additional 111 shares during the last quarter. Amundi grew its stake in Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company's stock valued at $183,461,000 after acquiring an additional 319,478 shares in the last quarter. Centre Asset Management LLC lifted its stake in Biogen by 7.7% in the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company's stock worth $7,880,000 after purchasing an additional 3,698 shares in the last quarter. Finally, Integrated Quantitative Investments LLC acquired a new position in shares of Biogen during the 4th quarter worth approximately $407,000. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Stock Up 2.9 %

NASDAQ BIIB traded up $3.32 during trading on Friday, reaching $118.61. 1,206,280 shares of the company's stock were exchanged, compared to its average volume of 1,354,030. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00. The stock has a market cap of $17.36 billion, a P/E ratio of 10.60, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. 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 company has a 50 day moving average price of $134.29 and a two-hundred day moving average price of $151.20.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, equities research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction dated Friday, March 7th. The stock was 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 directly owns 11,318 shares of the company's stock, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on BIIB shares. Citigroup reduced their price objective on Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Canaccord Genuity Group cut 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. HC Wainwright decreased their target price on shares of Biogen from $300.00 to $241.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Truist Financial reduced their price target on shares of Biogen from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, Argus cut Biogen from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Biogen has a consensus rating of "Hold" and an average price target of $213.15.

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.