Biogen Inc. (NASDAQ:BIIB) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in Biogen Inc. (NASDAQ:BIIBFree Report) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 135,176 shares of the biotechnology company’s stock after acquiring an additional 6,980 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.09% of Biogen worth $34,979,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BIIB. Alberta Investment Management Corp boosted its stake in Biogen by 46.7% during the 4th quarter. Alberta Investment Management Corp now owns 6,600 shares of the biotechnology company’s stock valued at $1,708,000 after acquiring an additional 2,100 shares during the last quarter. Bank of Nova Scotia lifted its position in shares of Biogen by 432.5% during the fourth quarter. Bank of Nova Scotia now owns 160,263 shares of the biotechnology company’s stock worth $41,470,000 after purchasing an additional 130,169 shares during the last quarter. Evoke Wealth LLC acquired a new position in Biogen in the fourth quarter worth about $2,808,000. Avestar Capital LLC increased its holdings in Biogen by 5.2% in the fourth quarter. Avestar Capital LLC now owns 2,137 shares of the biotechnology company’s stock valued at $553,000 after buying an additional 105 shares during the last quarter. Finally, TFO Wealth Partners LLC raised its stake in Biogen by 48,066.7% during the fourth quarter. TFO Wealth Partners LLC now owns 2,890 shares of the biotechnology company’s stock valued at $748,000 after buying an additional 2,884 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $231.99 on Friday. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $319.76. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average of $214.34 and a two-hundred day moving average of $229.39. The company has a market capitalization of $33.78 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 2.39 and a beta of -0.02.

Biogen (NASDAQ:BIIBGet Free Report) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.45 by $0.22. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $3.40 earnings per share. As a group, analysts expect that Biogen Inc. will post 15.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of research analyst reports. Wells Fargo & Company downgraded Biogen from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $315.00 to $240.00 in a report on Wednesday, February 14th. Royal Bank of Canada restated an “outperform” rating and issued a $317.00 price target on shares of Biogen in a research report on Wednesday. Bank of America decreased their price target on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Friday, April 12th. HC Wainwright reiterated a “buy” rating and set a $300.00 price objective on shares of Biogen in a research note on Thursday, May 23rd. Finally, Robert W. Baird decreased their target price on Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and an average target price of $286.50.

View Our Latest Report on Biogen

Biogen Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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