World Investment Advisors Acquires 545 Shares of Biogen Inc. (NASDAQ:BIIB)

World Investment Advisors grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 9.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,311 shares of the biotechnology company’s stock after buying an additional 545 shares during the quarter. World Investment Advisors’ holdings in Biogen were worth $965,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BIIB. Janus Henderson Group PLC grew its stake in shares of Biogen by 9.0% in the third quarter. Janus Henderson Group PLC now owns 23,029 shares of the biotechnology company’s stock valued at $4,462,000 after buying an additional 1,900 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Biogen by 1.9% during the 3rd quarter. Stifel Financial Corp now owns 47,554 shares of the biotechnology company’s stock worth $9,218,000 after purchasing an additional 868 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Biogen by 45.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 5,270 shares of the biotechnology company’s stock valued at $1,022,000 after purchasing an additional 1,638 shares during the period. EP Wealth Advisors LLC acquired a new stake in Biogen in the 3rd quarter valued at about $793,000. Finally, iA Global Asset Management Inc. grew its holdings in Biogen by 3.8% during the third quarter. iA Global Asset Management Inc. now owns 14,848 shares of the biotechnology company’s stock worth $2,878,000 after purchasing an additional 545 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BIIB has been the topic of several research analyst reports. Wells Fargo & Company dropped their price objective on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Bank Of America (Bofa) cut their price target on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Piper Sandler reiterated a “neutral” rating and issued a $135.00 price objective (down from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Sanford C. Bernstein began coverage on shares of Biogen in a research note on Tuesday, February 11th. They set a “market perform” rating and a $160.00 target price for the company. Finally, Royal Bank of Canada lowered their price target on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Biogen has an average rating of “Hold” and an average price target of $213.33.

Insider Activity at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares in the company, valued at approximately $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 accessible through the SEC website. 0.16% of the stock is owned by insiders.

Biogen Trading Down 5.9 %

Shares of BIIB opened at $122.98 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a 52-week low of $118.04 and a 52-week high of $238.00. The firm has a market cap of $18.00 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.51 and a beta of 0.01. The business’s fifty day moving average is $140.68 and its 200-day moving average is $157.34.

Biogen (NASDAQ:BIIB) last released 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 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 fiscal 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.