Mercer Global Advisors Inc. ADV Acquires 779 Shares of Biogen Inc. (NASDAQ:BIIB)

Mercer Global Advisors Inc. ADV grew its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 13.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,475 shares of the biotechnology company’s stock after buying an additional 779 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Biogen were worth $990,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BIIB. Assenagon Asset Management S.A. grew its position in Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after acquiring an additional 111 shares during the last quarter. Amundi increased its stake in shares of 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 period. Integrated Quantitative Investments LLC bought a new stake in Biogen during the 4th quarter valued at $407,000. Daiwa Securities Group Inc. boosted its position in Biogen by 17.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 37,221 shares of the biotechnology company’s stock valued at $5,692,000 after buying an additional 5,627 shares during the period. Finally, Y Intercept Hong Kong Ltd grew its holdings in Biogen by 111.0% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 15,148 shares of the biotechnology company’s stock worth $2,316,000 after acquiring an additional 7,970 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling

In other news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction on 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 transaction, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Biogen Stock Down 0.2 %

BIIB stock opened at $118.20 on Friday. The stock has a market capitalization of $17.32 billion, a P/E ratio of 10.56, a P/E/G ratio of 1.51 and a beta of 0.12. 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 1-year low of $110.04 and a 1-year high of $238.00. The business has a fifty day moving average price of $128.33 and a 200-day moving average price of $144.38.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BIIB. Royal Bank of Canada dropped their target price on shares of Biogen from $217.00 to $205.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. HC Wainwright dropped their price objective on Biogen from $241.00 to $187.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Truist Financial reduced their target price on Biogen from $210.00 to $199.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Mizuho dropped their price target on Biogen from $207.00 to $169.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Bank Of America (Bofa) reduced their price objective on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Twenty research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $191.30.

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.