Intech Investment Management LLC Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

Intech Investment Management LLC acquired a new position in Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,250 shares of the biotechnology company’s stock, valued at approximately $1,415,000.

Other institutional investors have also modified their holdings of the company. Larson Financial Group LLC increased its position in shares of Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 141 shares during the period. OFI Invest Asset Management purchased a new position in shares of Biogen during the fourth quarter worth approximately $32,000. SRS Capital Advisors Inc. purchased a new position in shares of Biogen during the fourth quarter worth approximately $33,000. Golden State Wealth Management LLC purchased a new position in shares of Biogen during the fourth quarter worth approximately $41,000. Finally, Itau Unibanco Holding S.A. increased its position in shares of Biogen by 63.8% during the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 90 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Biogen Trading Down 0.3 %

NASDAQ BIIB opened at $140.90 on Friday. The company has a market capitalization of $20.62 billion, a PE ratio of 12.59, a P/E/G ratio of 1.51 and a beta of 0.01. The company has a fifty day moving average of $142.16 and a 200 day moving average of $162.40. Biogen Inc. has a 1 year low of $128.51 and a 1 year 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.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) 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%. Research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BIIB shares. Scotiabank reduced their target price on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 13th. Bank of America reissued a “neutral” rating and set a $178.00 price objective on shares of Biogen in a report on Tuesday, December 10th. William Blair reissued an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and cut their price objective for the company from $250.00 to $180.00 in a report on Monday, December 9th. Finally, Wells Fargo & Company cut their price objective on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $213.33.

About Biogen

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.