Biogen Inc. (NASDAQ:BIIB) Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC increased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 18.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,624 shares of the biotechnology company’s stock after acquiring an additional 2,740 shares during the period. NEOS Investment Management LLC’s holdings in Biogen were worth $2,695,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BIIB. Vanguard Group Inc. boosted its position in shares of Biogen by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company’s stock valued at $2,561,238,000 after purchasing an additional 70,368 shares in the last quarter. State Street Corp boosted its holdings in Biogen by 3.5% during the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after buying an additional 248,942 shares in the last quarter. Geode Capital Management LLC grew its position in 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 buying an additional 47,055 shares during the last quarter. Pacer Advisors Inc. grew its position in 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 buying an additional 2,648,024 shares during the last quarter. Finally, 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 valued at $183,461,000 after buying an additional 319,478 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm’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 sale, the director now owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.16% of the company’s stock.

Biogen Stock Performance

BIIB opened at $138.37 on Friday. The stock has a 50-day moving average of $141.88 and a 200-day moving average of $160.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00. The company has a market cap of $20.25 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last announced 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%. As a group, equities research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on BIIB. Wells Fargo & Company decreased their target price on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Scotiabank cut their price objective on Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 13th. Bank Of America (Bofa) decreased their target price on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $135.00 price objective (down previously from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $213.33.

Biogen Company 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.