NEOS Investment Management LLC Buys 2,740 Shares of Biogen Inc. (NASDAQ:BIIB)

NEOS Investment Management LLC lifted its stake in Biogen Inc. (NASDAQ:BIIB) by 18.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 17,624 shares of the biotechnology company’s stock after acquiring an additional 2,740 shares during the period. NEOS Investment Management LLC’s holdings in Biogen were worth $2,695,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC increased its holdings in Biogen by 35.3% in the 3rd quarter. Cerity Partners LLC now owns 7,785 shares of the biotechnology company’s stock valued at $1,509,000 after buying an additional 2,030 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Biogen during the 3rd quarter valued at about $151,000. Glenmede Trust Co. NA increased its stake in Biogen by 621.2% in the third quarter. Glenmede Trust Co. NA now owns 77,301 shares of the biotechnology company’s stock valued at $14,984,000 after acquiring an additional 66,583 shares during the period. Fiduciary Trust Co raised its position in Biogen by 24.2% in the third quarter. Fiduciary Trust Co now owns 3,234 shares of the biotechnology company’s stock worth $627,000 after purchasing an additional 631 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Biogen by 1.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock worth $223,438,000 after purchasing an additional 18,905 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BIIB has been the topic of several analyst reports. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a research note on Monday, December 16th. HC Wainwright reduced their target price on shares of Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Piper Sandler reaffirmed a “neutral” rating and issued a $135.00 target price (down previously from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Finally, Morgan Stanley cut their price target on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $213.33.

Insider Buying and Selling at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the business’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 transaction 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. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Biogen Trading Down 1.4 %

BIIB opened at $138.37 on Friday. The firm has a 50 day simple moving average of $141.88 and a 200 day simple moving average of $160.25. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. The company has a market cap of $20.25 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. 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 (NASDAQ:BIIB) last issued 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 net margin of 16.87% and a return on equity of 14.98%. On average, sell-side analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current 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.