Biogen Inc. (NASDAQ:BIIB) Shares Bought by Arlington Partners LLC

Arlington Partners LLC grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 34.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 19,214 shares of the biotechnology company’s stock after buying an additional 4,902 shares during the quarter. Arlington Partners LLC’s holdings in Biogen were worth $3,724,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Biogen by 15.0% during the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after buying an additional 2,163,068 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Biogen by 22.2% during the 1st quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock valued at $374,623,000 after acquiring an additional 316,144 shares during the last quarter. RA Capital Management L.P. grew its holdings in shares of Biogen by 39.0% in the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after purchasing an additional 207,835 shares during the period. SG Americas Securities LLC increased its position in Biogen by 1,227.4% during the first quarter. SG Americas Securities LLC now owns 176,262 shares of the biotechnology company’s stock worth $38,007,000 after purchasing an additional 162,983 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Biogen by 27.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 570,533 shares of the biotechnology company’s stock worth $123,024,000 after purchasing an additional 122,101 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several analyst reports. Truist Financial reissued a “buy” rating and issued a $302.00 price target (down previously from $340.00) on shares of Biogen in a research note on Monday, August 5th. BMO Capital Markets lowered their price objective on Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Thursday. Mizuho reduced their target price on Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Barclays decreased their price target on Biogen from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, Royal Bank of Canada cut their price objective on Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $271.39.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Biogen Stock Down 1.7 %

BIIB traded down $3.32 on Monday, hitting $186.84. 145,688 shares of the company were exchanged, compared to its average volume of 1,116,578. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. The company has a market cap of $27.20 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 1.87 and a beta of -0.06. The firm has a 50-day moving average price of $197.09 and a two-hundred day moving average price of $210.94. Biogen Inc. has a twelve month low of $181.31 and a twelve month high of $268.30.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the company posted $4.02 earnings per share. On average, equities analysts predict that Biogen Inc. will post 16.13 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.