Park Avenue Securities LLC Buys 166 Shares of Biogen Inc. (NASDAQ:BIIB)

Park Avenue Securities LLC grew its stake in Biogen Inc. (NASDAQ:BIIBGet Rating) by 12.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,472 shares of the biotechnology company’s stock after acquiring an additional 166 shares during the quarter. Park Avenue Securities LLC’s holdings in Biogen were worth $393,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Assetmark Inc. increased its stake in shares of Biogen by 39.7% in the 3rd quarter. Assetmark Inc. now owns 1,528 shares of the biotechnology company’s stock valued at $408,000 after acquiring an additional 434 shares during the last quarter. Lowe Brockenbrough & Co. Inc. bought a new stake in shares of Biogen in the 3rd quarter valued at about $200,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Biogen by 8.1% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 97,688 shares of the biotechnology company’s stock valued at $26,083,000 after purchasing an additional 7,291 shares during the period. Alaska Permanent Fund Corp grew its position in shares of Biogen by 40.9% in the 3rd quarter. Alaska Permanent Fund Corp now owns 15,079 shares of the biotechnology company’s stock valued at $4,026,000 after purchasing an additional 4,379 shares during the period. Finally, Pinnacle Associates Ltd. grew its position in shares of Biogen by 1.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 4,602 shares of the biotechnology company’s stock valued at $1,229,000 after purchasing an additional 67 shares during the period. 84.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BIIB has been the subject of several research analyst reports. Guggenheim boosted their price objective on Biogen from $265.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, November 11th. StockNews.com initiated coverage on Biogen in a research report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Canaccord Genuity Group boosted their price objective on Biogen from $285.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 26th. Piper Sandler upped their price target on Biogen from $200.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 28th. Finally, JPMorgan Chase & Co. upped their price target on Biogen from $221.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, September 30th. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Biogen has an average rating of “Moderate Buy” and a consensus price target of $305.75.

Biogen Stock Up 2.0 %

BIIB stock opened at $285.77 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.49 and a quick ratio of 2.14. The stock has a market capitalization of $41.15 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.82 and a beta of 0.23. The business’s fifty day moving average price is $288.37 and its two-hundred day moving average price is $251.45. Biogen Inc. has a fifty-two week low of $187.16 and a fifty-two week high of $311.88.

Biogen (NASDAQ:BIIBGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The biotechnology company reported $4.77 earnings per share for the quarter, topping the consensus estimate of $4.13 by $0.64. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Biogen had a return on equity of 21.31% and a net margin of 27.64%. The company’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter last year, the business earned $4.77 EPS. On average, equities analysts anticipate that Biogen Inc. will post 17.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Ginger Gregory sold 5,610 shares of the stock in a transaction on Monday, November 14th. The stock was sold at an average price of $300.11, for a total transaction of $1,683,617.10. Following the sale, the executive vice president now directly owns 5,711 shares of the company’s stock, valued at approximately $1,713,928.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Biogen news, EVP Susan H. Alexander sold 5,532 shares of Biogen stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $280.70, for a total value of $1,552,832.40. Following the completion of the sale, the executive vice president now directly owns 39,396 shares in the company, valued at $11,058,457.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ginger Gregory sold 5,610 shares of Biogen stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $300.11, for a total value of $1,683,617.10. Following the completion of the sale, the executive vice president now owns 5,711 shares of the company’s stock, valued at $1,713,928.21. The disclosure for this sale can be found here. Company insiders own 0.65% of the company’s stock.

Biogen Profile

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Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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