APG Asset Management N.V. Grows Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

APG Asset Management N.V. raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 129,576 shares of the biotechnology company’s stock after acquiring an additional 2,906 shares during the period. APG Asset Management N.V. owned approximately 0.09% of Biogen worth $28,027,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BIIB. Leo Wealth LLC purchased a new stake in shares of Biogen during the fourth quarter worth approximately $2,265,000. Duality Advisers LP purchased a new position in Biogen during the 1st quarter worth $1,290,000. Tocqueville Asset Management L.P. lifted its stake in shares of Biogen by 924.4% in the 1st quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock worth $9,962,000 after acquiring an additional 41,690 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Biogen by 0.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock valued at $83,337,000 after acquiring an additional 3,380 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of Biogen by 235.1% during the first quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after acquiring an additional 10,425 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now owns 5,316 shares of the company’s stock, valued at $1,085,633.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by insiders.

Biogen Stock Up 0.6 %

BIIB opened at $194.67 on Friday. The firm has a market cap of $28.34 billion, a P/E ratio of 24.30, a PEG ratio of 1.97 and a beta of -0.06. Biogen Inc. has a 52 week low of $188.78 and a 52 week high of $269.43. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $204.76 and its 200 day simple moving average is $214.29.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the business earned $4.02 earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. As a group, equities research analysts anticipate that Biogen Inc. will post 16.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays reduced their price objective on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company decreased their price target on Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Mizuho cut their price objective on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Piper Sandler decreased their target price on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Biogen presently has an average rating of “Moderate Buy” and a consensus target price of $275.30.

Biogen Company 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.