2,572 Shares in Biogen Inc. (NASDAQ:BIIB) Purchased by S&CO Inc.

Key Points

• S&CO Inc. has invested $351,000 in Biogen Inc. by acquiring 2,572 shares of its stock during the first quarter.
• Biogen's stock has received a mix of ratings, with 21 analysts rating it as a hold and 12 issuing a buy rating, with an average target price of $186.37.
• Recent insider trading activity includes Rachid Izzar selling 2,223 shares at an average price of $135.00, resulting in a significant decrease in their ownership.

S&CO Inc. bought a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,572 shares of the biotechnology company's stock, valued at approximately $351,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BIIB. Blair William & Co. IL lifted its stake in shares of Biogen by 7.4% during the 4th quarter. Blair William & Co. IL now owns 13,049 shares of the biotechnology company's stock worth $1,996,000 after acquiring an additional 894 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Biogen by 12.4% in the fourth quarter. Orion Portfolio Solutions LLC now owns 6,846 shares of the biotechnology company's stock valued at $1,047,000 after purchasing an additional 754 shares during the period. Allstate Corp acquired a new stake in shares of Biogen during the fourth quarter worth about $657,000. Allianz SE acquired a new position in Biogen in the 4th quarter valued at about $219,000. Finally, California Public Employees Retirement System boosted its stake in shares of Biogen by 0.7% during the 4th quarter. California Public Employees Retirement System now owns 397,849 shares of the biotechnology company's stock worth $60,839,000 after acquiring an additional 2,778 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Price Performance

BIIB stock traded down $1.26 during trading hours on Wednesday, hitting $126.64. 1,891,266 shares of the stock traded hands, compared to its average volume of 1,119,414. The stock has a 50-day simple moving average of $129.69 and a 200 day simple moving average of $132.09. The company has a market cap of $18.56 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.85 and a beta of 0.14. 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 one year low of $110.04 and a one year high of $219.44.

Biogen (NASDAQ:BIIB - Get Free Report) last announced 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). Biogen had a return on equity of 14.03% and a net margin of 15.07%. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the business posted $3.67 EPS. Biogen's revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Activity at Biogen

In other news, insider Rachid Izzar sold 2,223 shares of the stock in a transaction on Tuesday, July 8th. The stock was 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. This represents a 25.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on BIIB shares. Oppenheimer set a $205.00 price objective on Biogen in a report on Friday, May 2nd. Piper Sandler reaffirmed a "neutral" rating and set a $115.00 price objective on shares of Biogen in a research report on Thursday, June 12th. Wedbush reaffirmed a "neutral" rating and issued a $121.00 price objective 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. Finally, Mizuho decreased their price objective on shares of Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Twenty-one research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus 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.