Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 33.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 24,000 shares of the biotechnology company’s stock after buying an additional 6,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Biogen were worth $3,670,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BIIB. Lee Danner & Bass Inc. acquired a new stake in Biogen in the fourth quarter valued at $25,000. Larson Financial Group LLC increased its position in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 141 shares during the last quarter. SRS Capital Advisors Inc. bought a new position in shares of Biogen during the fourth quarter worth about $33,000. OFI Invest Asset Management bought a new position in shares of Biogen during the fourth quarter worth about $32,000. Finally, Golden State Wealth Management LLC bought a new stake in Biogen in the fourth quarter valued at about $41,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Price Performance

NASDAQ:BIIB opened at $122.98 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The business’s 50-day moving average price is $140.68 and its 200 day moving average price is $157.62. Biogen Inc. has a 52-week low of $122.77 and a 52-week high of $238.00. The firm has a market cap of $18.00 billion, a P/E ratio of 10.99, a PEG ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) 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%. As a group, sell-side analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of research analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $135.00 target price (down previously from $138.00) on shares of Biogen in a report on Tuesday, February 18th. HC Wainwright reduced their price objective on Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Argus lowered shares of Biogen from a “buy” rating to a “hold” rating in a research note on Friday. Bank of America restated a “neutral” rating and issued a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. Finally, Canaccord Genuity Group lowered their price objective on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Eighteen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Biogen currently has an average rating of “Hold” and an average price target of $213.33.

Insider Buying and Selling at Biogen

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

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.