Twin Capital Management Inc. Has $1.58 Million Position in Biogen Inc. (NASDAQ:BIIB)

Twin Capital Management Inc. raised its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 35.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,542 shares of the biotechnology company's stock after purchasing an additional 3,029 shares during the quarter. Twin Capital Management Inc.'s holdings in Biogen were worth $1,579,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. acquired a new stake in Biogen during the 4th quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Biogen during the 1st quarter valued at $26,000. Colonial Trust Co SC grew its holdings in shares of Biogen by 9,300.0% during the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 186 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Biogen by 74.8% during the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 98 shares in the last quarter. Finally, CVA Family Office LLC grew its holdings in shares of Biogen by 71.1% during the 1st quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 96 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BIIB shares. Needham & Company LLC restated a "hold" rating on shares of Biogen in a report on Thursday, June 12th. The Goldman Sachs Group lowered their price target on shares of Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Mizuho lowered their price target on shares of Biogen from $207.00 to $169.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Canaccord Genuity Group lowered their price target on shares of Biogen from $265.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Robert W. Baird lowered their price target on shares of Biogen from $300.00 to $255.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Twenty equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $188.48.

Biogen Stock Down 2.9%

Shares of BIIB opened at $124.99 on Monday. The company has a 50-day simple moving average of $129.18 and a 200-day simple moving average of $133.05. The firm has a market capitalization 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 has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.44. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $236.48.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.25 billion. Biogen had a net margin of 15.07% and a return on equity of 14.03%. The firm's quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.67 EPS. On average, equities research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Transactions at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of the 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 owned 6,330 shares of the company's stock, valued at $854,550. This represents a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

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.

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