National Pension Service Buys 6,375 Shares of Biogen Inc. (NASDAQ:BIIB)

National Pension Service increased its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 302,317 shares of the biotechnology company's stock after purchasing an additional 6,375 shares during the period. National Pension Service owned 0.21% of Biogen worth $78,231,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BIIB. OFI Invest Asset Management bought a new stake in shares of Biogen during the 3rd quarter valued at $26,000. Gladius Capital Management LP bought a new stake in shares of Biogen in the 3rd quarter valued at $28,000. KB Financial Partners LLC increased its position in shares of Biogen by 105.1% in the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company's stock valued at $31,000 after buying an additional 62 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of Biogen by 76.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company's stock valued at $31,000 after buying an additional 51 shares in the last quarter. Finally, CVA Family Office LLC bought a new stake in shares of Biogen in the 4th quarter valued at $36,000. Institutional investors own 87.93% of the company's stock.

Biogen Price Performance

Shares of NASDAQ BIIB traded up $3.03 during midday trading on Thursday, reaching $222.75. The company's stock had a trading volume of 754,499 shares, compared to its average volume of 1,197,173. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $319.76. The business's 50 day moving average price is $211.93 and its two-hundred day moving average price is $230.96. The company has a market cap of $32.43 billion, a P/E ratio of 27.81, a P/E/G ratio of 2.21 and a beta of -0.01.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating analysts' consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The firm's quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.40 earnings per share. On average, analysts forecast that Biogen Inc. will post 15.6 EPS for the current fiscal year.

Insider Activity at Biogen

In other news, Director Eric K. Rowinsky acquired 455 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now directly owns 20,629 shares of the company's stock, valued at approximately $4,590,777.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Biogen news, insider Priya Singhal sold 262 shares of the business's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now owns 4,886 shares of the company's stock, valued at $1,080,929.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eric K. Rowinsky bought 455 shares of the firm's stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the purchase, the director now owns 20,629 shares of the company's stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders have sold 882 shares of company stock valued at $202,030 over the last three months. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on BIIB shares. Cantor Fitzgerald restated an "overweight" rating and issued a $311.00 price objective on shares of Biogen in a research report on Tuesday, February 20th. Piper Sandler reduced their target price on shares of Biogen from $350.00 to $325.00 and set an "overweight" rating for the company in a research note on Wednesday, February 14th. Bank of America reduced their target price on shares of Biogen from $280.00 to $260.00 and set a "neutral" rating for the company in a research note on Friday, April 12th. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 target price on shares of Biogen in a research note on Monday, April 29th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $340.00 target price on shares of Biogen in a research note on Monday, March 25th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $290.92.

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.