Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 4.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 124,756 shares of the biotechnology company's stock after acquiring an additional 5,723 shares during the period. Victory Capital Management Inc. owned 0.09% of Biogen worth $17,072,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Israel Discount Bank of New York raised its position in shares of Biogen by 6.2% during the fourth quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company's stock valued at $215,000 after buying an additional 82 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in Biogen by 4.1% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 2,343 shares of the biotechnology company's stock worth $358,000 after purchasing an additional 92 shares during the last quarter. Quent Capital LLC increased its position in Biogen by 31.2% in the first quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock worth $54,000 after purchasing an additional 93 shares during the last quarter. CVA Family Office LLC increased its position in Biogen by 71.1% in the first quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 96 shares during the last quarter. Finally, Private Trust Co. NA increased its position in Biogen by 74.8% in the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Institutional investors own 87.93% of the company's stock.

Insider Buying and Selling

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total value of $300,105.00. Following the completion of the transaction, the insider directly owned 6,330 shares in the company, valued at approximately $854,550. The trade was a 25.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company's stock.

Biogen Stock Down 0.8%

Biogen stock traded down $1.07 during trading hours on Friday, reaching $131.52. The stock had a trading volume of 976,978 shares, compared to its average volume of 1,173,055. The company has a market cap of $19.27 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.90 and a beta of 0.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.01. The business's 50 day moving average price is $129.74 and its 200-day moving average price is $132.38. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $219.44.

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

Wall Street Analyst Weigh In

BIIB has been the topic of several research reports. Hsbc Global Res cut shares of Biogen from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Oppenheimer set a $205.00 price target on shares of Biogen in a research report on Friday, May 2nd. Argus cut shares of Biogen from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. 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 report on Monday, April 28th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Biogen from $185.00 to $175.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Twenty-one research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price 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.