Impax Asset Management Group plc Has $7.52 Million Position in Biogen Inc. (NASDAQ:BIIB)

Impax Asset Management Group plc boosted its position in Biogen Inc. (NASDAQ:BIIB) by 40.5% in the third quarter, Holdings Channel.com reports. The firm owned 38,810 shares of the biotechnology company’s stock after purchasing an additional 11,185 shares during the quarter. Impax Asset Management Group plc’s holdings in Biogen were worth $7,523,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Biogen by 15.0% in the 1st quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after purchasing an additional 2,163,068 shares in the last quarter. Primecap Management Co. CA increased its holdings in Biogen by 0.7% in the 2nd quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock worth $3,787,543,000 after purchasing an additional 117,578 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Biogen by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock worth $342,772,000 after purchasing an additional 81,283 shares in the last quarter. RA Capital Management L.P. grew its position in shares of Biogen by 39.0% in the 1st quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after buying an additional 207,835 shares during the last quarter. Finally, abrdn plc grew its position in shares of Biogen by 6.2% in the 3rd quarter. abrdn plc now owns 568,510 shares of the biotechnology company’s stock valued at $110,123,000 after buying an additional 33,333 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BIIB shares. Royal Bank of Canada reduced their price target on Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. TD Cowen reduced their price target on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. UBS Group reduced their price target on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Robert W. Baird upped their price target on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Wedbush reduced their price target on Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. Twelve research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $258.96.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 431 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares of the company’s stock, valued at $1,085,633.52. This represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

Biogen Stock Down 3.0 %

Shares of NASDAQ:BIIB opened at $159.99 on Friday. The business’s 50 day simple moving average is $186.80 and its two-hundred day simple moving average is $207.77. The firm has a market cap of $23.31 billion, a P/E ratio of 14.45, a PEG ratio of 1.57 and a beta of -0.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen Inc. has a 52-week low of $159.60 and a 52-week high of $268.30.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.36 earnings per share. As a group, research analysts forecast that Biogen Inc. will post 16.4 EPS for the current fiscal year.

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.