Biogen Inc. (NASDAQ:BIIB) Holdings Lifted by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC grew its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 214.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 461,120 shares of the biotechnology company's stock after purchasing an additional 314,669 shares during the period. Worldquant Millennium Advisors LLC owned approximately 0.32% of Biogen worth $70,514,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Biogen by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company's stock worth $2,561,238,000 after purchasing an additional 70,368 shares during the last quarter. Geode Capital Management LLC grew its position in Biogen by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company's stock worth $563,709,000 after purchasing an additional 82,456 shares during the last quarter. Pacer Advisors Inc. grew its position in Biogen by 13,574.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock worth $407,919,000 after purchasing an additional 2,648,024 shares during the last quarter. Norges Bank bought a new position in Biogen in the 4th quarter worth about $355,569,000. Finally, Invesco Ltd. grew its position in Biogen by 30.6% in the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock worth $325,537,000 after purchasing an additional 499,074 shares during the last quarter. Institutional investors own 87.93% of the company's stock.

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now owns 11,318 shares in the company, 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 SEC, which can be accessed through this hyperlink. Company insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Needham & Company LLC restated a "hold" rating on shares of Biogen in a research report on Friday, May 2nd. HSBC lowered shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 price target for the company. in a research note on Monday, April 28th. Oppenheimer set a $205.00 price target on shares of Biogen in a research note on Friday, May 2nd. The Goldman Sachs Group reduced their price target on shares of Biogen from $219.00 to $197.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, HC Wainwright reduced their price target on shares of Biogen from $241.00 to $187.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Twenty research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $191.30.

Biogen Stock Up 3.1%

Shares of NASDAQ:BIIB opened at $129.44 on Tuesday. The company has a market cap of $18.97 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12. 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 firm has a 50 day simple moving average of $125.74 and a 200 day simple moving average of $141.78. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00.

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

About Biogen

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.

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