GF Fund Management CO. LTD. Makes New $5.24 Million Investment in Biogen Inc. (NASDAQ:BIIB)

GF Fund Management CO. LTD. purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 34,242 shares of the biotechnology company's stock, valued at approximately $5,236,000.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Biogen by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company's stock worth $2,561,238,000 after acquiring an additional 70,368 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Biogen by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company's stock worth $563,709,000 after buying an additional 82,456 shares during the period. Pacer Advisors Inc. grew its holdings 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 acquiring an additional 2,648,024 shares during the last quarter. Norges Bank purchased a new position in shares of Biogen in the fourth quarter valued at about $355,569,000. Finally, Invesco Ltd. increased its position in shares of Biogen by 30.6% in the fourth quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock valued at $325,537,000 after acquiring an additional 499,074 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Performance

NASDAQ BIIB traded up $5.22 on Thursday, hitting $132.75. 1,906,846 shares of the company traded hands, compared to its average volume of 1,400,752. The company has a market capitalization of $19.45 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 1.51 and a beta of 0.12. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The business's 50 day moving average price is $123.77 and its 200-day moving average price is $139.96. 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 earnings results 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 for the quarter, compared to analysts' expectations of $2.25 billion. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Biogen's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.67 earnings per share. Equities analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of analyst reports. Robert W. Baird decreased their price objective on shares of Biogen from $300.00 to $255.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Scotiabank decreased their price objective on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a research report on Thursday, February 13th. Sanford C. Bernstein initiated coverage on shares of Biogen in a research report on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 price objective on the stock. Hsbc Global Res cut shares of Biogen from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Royal Bank of Canada decreased their price objective on shares of Biogen from $217.00 to $205.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Twenty analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $191.30.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.16% of the company's stock.

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.