CANADA LIFE ASSURANCE Co Sells 20,416 Shares of Biogen Inc. (NASDAQ:BIIB)

CANADA LIFE ASSURANCE Co trimmed its position in Biogen Inc. (NASDAQ:BIIB) by 14.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,227 shares of the biotechnology company’s stock after selling 20,416 shares during the period. CANADA LIFE ASSURANCE Co owned 0.09% of Biogen worth $27,021,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BIIB. Mutual Advisors LLC boosted its holdings in Biogen by 15.7% in the 4th quarter. Mutual Advisors LLC now owns 3,496 shares of the biotechnology company’s stock valued at $905,000 after purchasing an additional 475 shares during the period. CVA Family Office LLC bought a new position in Biogen in the 4th quarter valued at $36,000. Pacer Advisors Inc. boosted its holdings in Biogen by 74.4% in the 4th quarter. Pacer Advisors Inc. now owns 28,929 shares of the biotechnology company’s stock valued at $7,486,000 after purchasing an additional 12,343 shares during the period. IFG Advisory LLC boosted its holdings in Biogen by 5.5% in the 4th quarter. IFG Advisory LLC now owns 1,779 shares of the biotechnology company’s stock valued at $460,000 after purchasing an additional 93 shares during the period. Finally, Planned Solutions Inc. bought a new position in Biogen in the 4th quarter valued at $52,000. 87.93% of the stock is owned by institutional investors.

Biogen Trading Up 0.6 %

Shares of NASDAQ BIIB opened at $227.44 on Friday. The firm’s 50 day moving average price is $226.68 and its 200-day moving average price is $224.83. The company has a market cap of $33.12 billion, a PE ratio of 28.39, a P/E/G ratio of 2.28 and a beta of -0.04. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $278.95. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the firm posted $3.40 earnings per share. The business’s revenue was down 7.0% on a year-over-year basis. On average, equities research analysts expect that Biogen Inc. will post 15.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BIIB has been the topic of several research reports. Oppenheimer restated an “outperform” rating and set a $270.00 price objective on shares of Biogen in a research report on Monday, April 29th. William Blair restated an “outperform” rating on shares of Biogen in a research report on Wednesday, July 3rd. Truist Financial restated a “buy” rating and set a $340.00 price objective on shares of Biogen in a research report on Thursday, May 16th. Needham & Company LLC restated a “buy” rating and set a $294.00 price objective on shares of Biogen in a research report on Friday, June 28th. Finally, HSBC raised their price objective on shares of Biogen from $339.00 to $342.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $286.00.

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.