Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Ethic Inc.

Ethic Inc. boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 108.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,912 shares of the biotechnology company's stock after purchasing an additional 7,743 shares during the quarter. Ethic Inc.'s holdings in Biogen were worth $2,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in BIIB. Pacer Advisors Inc. boosted its holdings in Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock worth $407,919,000 after acquiring an additional 2,648,024 shares in the last quarter. Norges Bank acquired a new stake in Biogen in the fourth quarter worth about $355,569,000. Van ECK Associates Corp boosted its holdings in Biogen by 977.9% in the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company's stock worth $163,083,000 after acquiring an additional 967,523 shares in the last quarter. Invesco Ltd. boosted its holdings in Biogen by 30.6% in the fourth quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock worth $325,537,000 after acquiring an additional 499,074 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Biogen by 982.0% in the fourth quarter. AQR Capital Management LLC now owns 539,692 shares of the biotechnology company's stock worth $81,914,000 after acquiring an additional 489,811 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

Biogen Stock Performance

BIIB stock traded up $1.89 during trading on Friday, hitting $125.59. 1,803,229 shares of the company traded hands, compared to its average volume of 1,382,639. The stock's 50-day simple moving average is $125.96 and its 200 day simple moving average is $142.31. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The company has a market cap of $18.40 billion, a PE ratio of 11.22, a P/E/G ratio of 1.51 and a beta of 0.12. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the business posted $3.67 earnings per share. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BIIB. Canaccord Genuity Group lowered their price target on Biogen from $265.00 to $220.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Truist Financial lowered their price target on Biogen from $210.00 to $199.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. HSBC downgraded Biogen from a "buy" rating to a "hold" rating and set a $118.00 price target for the company. in a report on Monday, April 28th. Royal Bank of Canada reduced their price objective on Biogen from $217.00 to $205.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Robert W. Baird reduced their price objective on Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $191.30.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction that occurred on 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 sale, the director now directly owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. This trade represents a 43.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate 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.