Vinva Investment Management Ltd Takes Position in Biogen Inc. (NASDAQ:BIIB)

Vinva Investment Management Ltd purchased a new stake in Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,874 shares of the biotechnology company’s stock, valued at approximately $281,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Signaturefd LLC increased its stake in shares of Biogen by 3.5% in the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock valued at $320,000 after acquiring an additional 71 shares during the last quarter. Quent Capital LLC increased its stake in shares of Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after acquiring an additional 72 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 77 shares during the last quarter. Principal Securities Inc. increased its stake in shares of Biogen by 30.1% in the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 78 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Biogen by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock valued at $767,000 after purchasing an additional 79 shares during the period. 87.93% of the stock is owned by institutional investors.

Insider Transactions at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on BIIB. Morgan Stanley decreased their price objective on Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Canaccord Genuity Group decreased their price objective on Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. BMO Capital Markets decreased their price objective 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. Finally, Piper Sandler reiterated a “neutral” rating and issued a $135.00 price objective (down from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $213.33.

Biogen Stock Down 0.3 %

Biogen stock opened at $140.90 on Friday. The firm 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’s 50-day moving average is $142.16 and its 200-day moving average is $162.40. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week 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 released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Sell-side analysts anticipate that Biogen Inc. will post 15.83 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.