AustralianSuper Pty Ltd Invests $54.42 Million in Biogen Inc. (NASDAQ:BIIB)

AustralianSuper Pty Ltd acquired a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 397,697 shares of the biotechnology company's stock, valued at approximately $54,421,000. AustralianSuper Pty Ltd owned approximately 0.27% of Biogen at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Lee Danner & Bass Inc. acquired a new position in Biogen during the 4th quarter worth $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Biogen during the first quarter valued at about $26,000. Colonial Trust Co SC raised its position in shares of Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after buying an additional 186 shares during the last quarter. Private Trust Co. NA raised its position in shares of Biogen by 74.8% during the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after buying an additional 98 shares during the last quarter. Finally, CVA Family Office LLC raised its position in shares of Biogen by 71.1% during the first quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock valued at $32,000 after buying an additional 96 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the transaction, the insider directly owned 6,330 shares in the company, valued at $854,550. This represents a 25.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.18% of the company's stock.

Biogen Stock Performance

BIIB traded down $3.70 on Friday, reaching $124.99. The company had a trading volume of 1,524,813 shares, compared to its average volume of 1,451,577. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $236.48. The stock has a market cap of $18.31 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.00 and a beta of 0.14. The company's fifty day moving average is $129.18 and its 200 day moving average is $133.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.44.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a net margin of 15.07% and a return on equity of 14.03%. The business's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.67 EPS. As a group, analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BIIB has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a research note on Thursday, June 12th. Royal Bank Of Canada set a $213.00 price target on shares of Biogen and gave the company an "outperform" rating in a research note on Wednesday, June 25th. HC Wainwright reissued a "buy" rating and set a $187.00 price target on shares of Biogen in a research note on Thursday, June 26th. HSBC cut shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 price target on the stock. in a research note on Monday, April 28th. Finally, The Goldman Sachs Group decreased their price target on shares of Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Twenty equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Biogen has a consensus rating of "Hold" and an average target price of $188.48.

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.