Advisors Asset Management Inc. Buys 147 Shares of Biogen Inc. (NASDAQ:BIIB)

Advisors Asset Management Inc. increased its position in Biogen Inc. (NASDAQ:BIIB) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,696 shares of the biotechnology company’s stock after purchasing an additional 147 shares during the quarter. Advisors Asset Management Inc.’s holdings in Biogen were worth $1,298,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Plato Investment Management Ltd increased its stake in shares of Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 53 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Biogen during the 2nd quarter valued at about $33,000. Ashton Thomas Securities LLC bought a new stake in shares of Biogen in the 3rd quarter valued at about $33,000. EntryPoint Capital LLC purchased a new stake in shares of Biogen in the 1st quarter worth approximately $36,000. Finally, Versant Capital Management Inc boosted its stake in shares of Biogen by 123.2% during the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 85 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BIIB has been the subject of a number of analyst reports. Truist Financial restated a “buy” rating and set a $302.00 target price (down previously from $340.00) on shares of Biogen in a report on Monday, August 5th. Scotiabank dropped their price objective on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their target price on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, November 4th. BMO Capital Markets lowered their price target on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, TD Cowen reduced their price objective on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.20.

Biogen Stock Performance

Shares of BIIB stock opened at $158.71 on Tuesday. Biogen Inc. has a 52-week low of $153.62 and a 52-week high of $268.30. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The stock has a market cap of $23.13 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.49 and a beta of -0.06. The business has a 50-day simple moving average of $181.03 and a 200-day simple moving average of $204.67.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.36 EPS. On average, equities analysts expect that Biogen Inc. will post 16.44 EPS for the current year.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the sale, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. This trade represents a 7.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

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.