Biogen Inc. (NASDAQ:BIIB) Shares Bought by Magnetar Financial LLC

Magnetar Financial LLC increased its position in Biogen Inc. (NASDAQ:BIIB) by 61.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,877 shares of the biotechnology company’s stock after acquiring an additional 717 shares during the period. Magnetar Financial LLC’s holdings in Biogen were worth $287,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Inspire Trust Co. N.A. boosted its position in shares of 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. lifted its stake in Biogen by 0.3% during the fourth 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 during the last quarter. Centre Asset Management LLC boosted its holdings in Biogen by 7.7% during the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after buying an additional 3,698 shares in the last quarter. Amundi grew its position in Biogen by 35.6% in the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after buying an additional 319,478 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after buying an additional 12,319 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. HC Wainwright decreased their target price on Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Royal Bank of Canada dropped their price target on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Truist Financial reduced their price objective on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Citigroup dropped their target price on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Stifel Nicolaus downgraded shares of 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 equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $213.33.

Biogen Trading Down 0.3 %

Shares of NASDAQ:BIIB opened at $140.90 on Monday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $20.62 billion, a PE ratio of 12.59, a P/E/G ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The firm has a fifty day moving average price of $142.16 and a 200 day moving average price of $161.81.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results 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 return on equity of 14.98% and a net margin of 16.87%. Analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen 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 transaction, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

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.