Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC increased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,630 shares of the biotechnology company’s stock after purchasing an additional 101 shares during the quarter. Park Avenue Securities LLC’s holdings in Biogen were worth $510,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. FIL Ltd lifted its stake in Biogen by 936.4% during the 4th quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock valued at $169,883,000 after acquiring an additional 593,158 shares during the period. V Square Quantitative Management LLC lifted its position in Biogen by 31.6% during the fourth quarter. V Square Quantitative Management LLC now owns 2,661 shares of the biotechnology company’s stock valued at $689,000 after purchasing an additional 639 shares during the period. Proathlete Wealth Management LLC purchased a new stake in Biogen in the fourth quarter valued at $498,000. Northwest Bank & Trust Co acquired a new stake in Biogen during the 4th quarter worth about $847,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of Biogen during the 4th quarter valued at about $113,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

BIIB has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $285.00 target price on shares of Biogen in a report on Tuesday, September 24th. Raymond James reaffirmed a “market perform” rating on shares of Biogen in a report on Thursday. UBS Group lowered their price target on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Truist Financial reaffirmed a “buy” rating and issued a $302.00 price objective (down previously from $340.00) on shares of Biogen in a report on Monday, August 5th. Finally, Wedbush lowered their target price on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. Nine equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $273.78.

Insider Activity

In related news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Biogen Price Performance

NASDAQ:BIIB opened at $188.38 on Friday. Biogen Inc. has a one year low of $181.31 and a one year high of $269.43. The stock has a market cap of $27.44 billion, a PE ratio of 23.73, a P/E/G ratio of 1.87 and a beta of -0.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. The stock has a 50 day moving average price of $198.48 and a 200 day moving average price of $211.93.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the firm earned $4.02 EPS. The company’s quarterly revenue was up .4% compared to the same quarter last year. Equities research analysts expect that Biogen Inc. will post 16.13 EPS 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.