Biogen Inc. (NASDAQ:BIIB) Shares Bought by Kennedy Capital Management LLC

Kennedy Capital Management LLC raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 22.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,395 shares of the biotechnology company’s stock after acquiring an additional 815 shares during the quarter. Kennedy Capital Management LLC’s holdings in Biogen were worth $672,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Inspire Trust Co. N.A. lifted its holdings in Biogen by 58.5% in 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. lifted its stake in shares of Biogen by 0.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after buying an additional 111 shares in the last quarter. Amundi boosted its position in Biogen by 35.6% during the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after acquiring an additional 319,478 shares during the last quarter. Centre Asset Management LLC grew its stake 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 acquiring an additional 3,698 shares in the last quarter. Finally, Integrated Quantitative Investments LLC acquired a new stake in Biogen in the 4th quarter valued at about $407,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling 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 value of $1,314,175.20. Following the completion of 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 SEC, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BIIB shares. Morgan Stanley lowered their target price on Biogen from $157.00 to $152.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Stifel Nicolaus downgraded Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a research note on Monday, December 16th. Sanford C. Bernstein began coverage on Biogen in a report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price target on the stock. Royal Bank of Canada dropped their price objective on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $135.00 target price (down from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Eighteen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $213.15.

Biogen Trading Up 3.6 %

BIIB opened at $119.26 on Tuesday. The business has a fifty day moving average price of $136.21 and a 200 day moving average price of $153.22. 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 Inc. has a 12 month low of $110.04 and a 12 month high of $238.00. The stock has a market capitalization of $17.46 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 1.51 and a beta of 0.06.

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