Charles Schwab Investment Management Inc. Raises Stock Position in Biogen Inc. (NASDAQ:BIIB)

Charles Schwab Investment Management Inc. increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 1.4% in the third quarter, Holdings Channel reports. The firm owned 913,029 shares of the biotechnology company’s stock after acquiring an additional 12,319 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Biogen were worth $176,982,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BIIB. O Shaughnessy Asset Management LLC raised its holdings in shares of Biogen by 5.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,940 shares of the biotechnology company’s stock valued at $849,000 after buying an additional 188 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Biogen during the first quarter worth $36,000. Advisors Asset Management Inc. lifted its position in shares of Biogen by 6.5% during the first quarter. Advisors Asset Management Inc. now owns 7,441 shares of the biotechnology company’s stock worth $1,605,000 after purchasing an additional 451 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Biogen by 3.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 109,159 shares of the biotechnology company’s stock valued at $23,538,000 after purchasing an additional 3,233 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Biogen by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock worth $342,772,000 after buying an additional 81,283 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wedbush lowered their target price on Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. HC Wainwright restated a “buy” rating and set a $300.00 price objective on shares of Biogen in a research note on Thursday, October 31st. UBS Group cut their target price on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Scotiabank decreased their price target on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research report on Friday, August 2nd. Finally, Oppenheimer cut their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.20.

Insider Activity

In related news, insider Priya Singhal sold 431 shares of the stock in a transaction that occurred 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 $1,085,633.52. This represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

Biogen Stock Down 0.1 %

BIIB stock opened at $157.90 on Friday. Biogen Inc. has a 52 week low of $153.62 and a 52 week high of $268.30. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $23.01 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 1.49 and a beta of -0.06. The firm’s 50-day moving average is $181.85 and its two-hundred day moving average is $205.22.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.36 EPS. On average, analysts forecast that Biogen Inc. will post 16.44 earnings per share for the current fiscal year.

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.