Allianz Asset Management GmbH Has $91.38 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Allianz Asset Management GmbH lifted its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 24.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 667,767 shares of the biotechnology company's stock after acquiring an additional 131,813 shares during the quarter. Allianz Asset Management GmbH owned 0.46% of Biogen worth $91,377,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BIIB. Magnetar Financial LLC boosted its stake in Biogen by 61.8% in the fourth quarter. Magnetar Financial LLC now owns 1,877 shares of the biotechnology company's stock valued at $287,000 after acquiring an additional 717 shares during the period. Lee Danner & Bass Inc. acquired a new position in shares of Biogen during the fourth quarter worth approximately $25,000. Quantbot Technologies LP boosted its position in shares of Biogen by 217.7% during the fourth quarter. Quantbot Technologies LP now owns 2,472 shares of the biotechnology company's stock worth $378,000 after buying an additional 1,694 shares during the period. Mizuho Securities USA LLC boosted its position in shares of Biogen by 46.2% during the fourth quarter. Mizuho Securities USA LLC now owns 13,811 shares of the biotechnology company's stock worth $2,112,000 after buying an additional 4,366 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Biogen during the fourth quarter worth approximately $705,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Biogen

In other news, insider Rachid Izzar sold 2,223 shares of the company's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total value of $300,105.00. Following the transaction, the insider directly owned 6,330 shares of the company's stock, valued at approximately $854,550. This represents a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

Biogen Stock Up 0.3%

NASDAQ:BIIB traded up $0.45 during trading hours on Thursday, hitting $131.43. 562,453 shares of the stock traded hands, compared to its average volume of 1,555,121. The firm has a 50 day moving average price of $129.45 and a 200 day moving average price of $132.80. The company has a current ratio of 1.44, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $236.48. The firm has a market cap of $19.26 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.03 and a beta of 0.14.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a net margin of 15.07% and a return on equity of 14.03%. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the firm earned $3.67 earnings per share. Biogen's revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. 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 report on Friday, May 2nd. Argus downgraded Biogen from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Truist Financial upgraded Biogen to a "hold" rating and set a $142.00 price objective for the company in a research report on Monday. Finally, HC Wainwright reiterated a "buy" rating and set a $187.00 price objective on shares of Biogen in a research report on Thursday, June 26th. Twenty-one investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $186.37.

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.