APG Asset Management US Inc. Acquires New Shares in Biogen Inc. (NASDAQ:BIIB)

APG Asset Management US Inc. purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, Holdings Channel reports. The fund purchased 3,010 shares of the biotechnology company’s stock, valued at approximately $460,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its holdings in shares of Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 141 shares during the period. Lee Danner & Bass Inc. acquired a new stake in shares of Biogen during the fourth quarter worth $25,000. OFI Invest Asset Management acquired a new position in Biogen during the fourth quarter valued at $32,000. SRS Capital Advisors Inc. acquired a new position in Biogen during the fourth quarter valued at $33,000. Finally, Golden State Wealth Management LLC acquired a new position in Biogen during the fourth quarter valued at $41,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was 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. This represents a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.16% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $120.49 on Thursday. The business has a 50 day moving average price of $137.86 and a 200 day moving average price of $155.09. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $238.00. The company has a market cap of $17.64 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 1.51 and a beta of 0.06. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

BIIB has been the topic of several research reports. Truist Financial dropped their target price on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Bank Of America (Bofa) dropped their target price on Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Sanford C. Bernstein initiated coverage on Biogen in a research report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 target price on the stock. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research note on Thursday, February 13th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Hold” and an average target price of $213.15.

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.