Cibc World Markets Corp Has $4.01 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Cibc World Markets Corp boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 14.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 26,240 shares of the biotechnology company’s stock after acquiring an additional 3,267 shares during the period. Cibc World Markets Corp’s holdings in Biogen were worth $4,013,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. State Street Corp raised its holdings in Biogen by 3.5% during the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after buying an additional 248,942 shares during the last quarter. Geode Capital Management LLC raised its holdings in Biogen by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after buying an additional 47,055 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after buying an additional 2,648,024 shares during the last quarter. Amundi raised its holdings in Biogen by 35.6% during the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after buying an additional 319,478 shares during the last quarter. Finally, RA Capital Management L.P. grew its stake in shares of Biogen by 20.6% in the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after acquiring an additional 202,317 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on BIIB shares. HC Wainwright reduced their target price on shares of Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and reduced their target price for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. BMO Capital Markets reduced their target price on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $135.00 target price (down previously from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $213.33.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

Biogen Trading Down 1.2 %

Shares of Biogen stock opened at $141.43 on Thursday. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The company has a market cap of $20.70 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.51 and a beta of 0.01. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $142.51 and its 200-day moving average price is $163.00.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, equities analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

About Biogen

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.