Ilmarinen Mutual Pension Insurance Co Boosts Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Ilmarinen Mutual Pension Insurance Co raised its holdings in Biogen Inc. (NASDAQ:BIIB) by 33.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,000 shares of the biotechnology company’s stock after purchasing an additional 6,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Biogen were worth $3,670,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Public Sector Pension Investment Board raised its position in Biogen by 12.4% in the third quarter. Public Sector Pension Investment Board now owns 6,361 shares of the biotechnology company’s stock worth $1,233,000 after acquiring an additional 700 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Biogen by 9.0% in the 3rd quarter. Janus Henderson Group PLC now owns 23,029 shares of the biotechnology company’s stock valued at $4,462,000 after purchasing an additional 1,900 shares in the last quarter. Investment Management Corp of Ontario increased its holdings in shares of Biogen by 48.9% in the 3rd quarter. Investment Management Corp of Ontario now owns 4,870 shares of the biotechnology company’s stock valued at $944,000 after purchasing an additional 1,600 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of Biogen by 1.9% in the third quarter. Stifel Financial Corp now owns 47,554 shares of the biotechnology company’s stock valued at $9,218,000 after purchasing an additional 868 shares during the period. Finally, 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. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BIIB shares. Sanford C. Bernstein assumed coverage on Biogen in a research note on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price target on the stock. Canaccord Genuity Group decreased their target price on Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. BMO Capital Markets dropped their price target on Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research report on Thursday, February 13th. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Finally, Stifel Nicolaus downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a report on Monday, December 16th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Biogen currently has an average rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Performance

Biogen stock opened at $122.98 on Friday. The company has a market cap of $18.00 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 12 month low of $122.77 and a 12 month high of $238.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The stock’s 50-day moving average is $140.68 and its 200-day moving average is $157.62.

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

Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by insiders.

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.