Biogen Inc. (NASDAQ:BIIB) Shares Bought by Invesco Ltd.

Invesco Ltd. lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 30.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,128,807 shares of the biotechnology company’s stock after acquiring an additional 499,074 shares during the quarter. Invesco Ltd.’s holdings in Biogen were worth $325,537,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Inspire Trust Co. N.A. boosted its stake in shares of Biogen by 58.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after acquiring an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Biogen by 0.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after buying an additional 111 shares during the period. Amundi boosted its position 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 buying an additional 319,478 shares during the period. Centre Asset Management LLC boosted its position in shares of Biogen by 7.7% in the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after buying an additional 3,698 shares during the period. Finally, Integrated Quantitative Investments LLC acquired a new stake in shares of Biogen in the fourth quarter worth $407,000. 87.93% of the stock is owned by institutional investors.

Biogen Trading Up 5.6 %

Shares of BIIB opened at $120.49 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average price is $137.86 and its 200 day moving average price is $155.09. The firm has a market capitalization of $17.64 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 1.51 and a beta of 0.06. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $238.00.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping 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%. As a group, research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Transactions at Biogen

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Morgan Stanley decreased their target price on Biogen from $157.00 to $152.00 and set an “equal weight” rating for the company in a research report on Wednesday. StockNews.com cut Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Truist Financial reduced their price objective on Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Canaccord Genuity Group reduced their price objective on Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Eighteen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.