Triglav Skladi D.O.O. Makes New $2.76 Million Investment in Biogen Inc. (NASDAQ:BIIB)

Triglav Skladi D.O.O. purchased a new position in Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 18,027 shares of the biotechnology company’s stock, valued at approximately $2,756,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of BIIB. Pacer Advisors Inc. boosted its position in shares of Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after acquiring an additional 2,648,024 shares in the last quarter. Norges Bank acquired a new stake in shares of Biogen during the 4th quarter valued at about $355,569,000. Van ECK Associates Corp boosted its position in shares of Biogen by 977.9% during the 4th quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock valued at $163,083,000 after acquiring an additional 967,523 shares in the last quarter. Invesco Ltd. boosted its position in shares of Biogen by 30.6% during the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company’s stock valued at $325,537,000 after acquiring an additional 499,074 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Biogen by 982.0% during the 4th quarter. AQR Capital Management LLC now owns 539,692 shares of the biotechnology company’s stock valued at $81,914,000 after acquiring an additional 489,811 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 11,318 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Biogen Trading Up 1.5%

BIIB opened at $125.59 on Monday. Biogen Inc. has a fifty-two week low of $110.04 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. The company has a market cap of $18.40 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12. The firm has a 50 day simple moving average of $125.96 and a 200 day simple moving average of $142.09.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the company posted $3.67 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BIIB has been the topic of several recent research reports. BMO Capital Markets decreased their target price on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research report on Thursday, February 13th. The Goldman Sachs Group reduced their price target on shares of Biogen from $219.00 to $197.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. HSBC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $118.00 price target on the stock. in a research report on Monday, April 28th. Canaccord Genuity Group reduced their price target on shares of Biogen from $265.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, Sanford C. Bernstein initiated coverage on shares of Biogen in a research report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price target on the stock. Twenty research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $191.30.

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.