OFI Invest Asset Management Acquires New Stake in Biogen Inc. (NASDAQ:BIIB)

OFI Invest Asset Management acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 219 shares of the biotechnology company’s stock, valued at approximately $32,000.

A number of other large investors also recently bought and sold shares of BIIB. Inspire Trust Co. N.A. raised its position in Biogen by 58.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after purchasing an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after purchasing an additional 111 shares in the last quarter. Centre Asset Management LLC raised its position in Biogen by 7.7% during the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after purchasing an additional 3,698 shares in the last quarter. Amundi raised its position in Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after purchasing an additional 319,478 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group decreased their target price on Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Jefferies Financial Group lowered Biogen from a “buy” rating to a “hold” rating and reduced their price target for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Bank Of America (Bofa) reduced their price target on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a research report on Monday, December 16th. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $213.33.

Insider Transactions at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

Biogen Stock Down 4.7 %

Biogen stock opened at $143.66 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The business’s 50-day simple moving average is $143.80 and its two-hundred day simple moving average is $165.37. The company has a market cap of $21.03 billion, a PE ratio of 12.84, a PEG ratio of 1.51 and a beta of 0.01. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00.

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

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.