Generali Asset Management SPA SGR Purchases Shares of 16,195 Biogen Inc. (NASDAQ:BIIB)

Generali Asset Management SPA SGR bought a new position in Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,195 shares of the biotechnology company’s stock, valued at approximately $2,477,000.

Several other large investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after purchasing an additional 248,942 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Biogen by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after purchasing an additional 47,055 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after purchasing an additional 2,648,024 shares during the last quarter. Amundi increased its holdings in shares of Biogen by 35.6% in the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after purchasing an additional 319,478 shares during the last quarter. Finally, RA Capital Management L.P. increased its holdings in shares of Biogen by 20.6% in the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after purchasing an additional 202,317 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Truist Financial reduced their target price on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Scotiabank reduced their price objective on Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 13th. Bank of America reissued a “neutral” rating and set a $178.00 price objective on shares of Biogen in a research note on Tuesday, December 10th. Jefferies Financial Group cut Biogen from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $213.33.

Insider Buying and Selling

In related news, Director Stephen A. Sherwin sold 8,760 shares of the business’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 completion of the transaction, the director now owns 11,318 shares of the company’s stock, valued at $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

Biogen Stock Down 1.2 %

Shares of NASDAQ BIIB opened at $141.43 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The firm has a market capitalization 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 stock has a 50 day moving average price of $142.51 and a 200 day moving average price of $163.00. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 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%. Sell-side analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Biogen 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.