AIA Group Ltd Boosts Stock Position in Biogen Inc. (NASDAQ:BIIB)

AIA Group Ltd raised its stake in Biogen Inc. (NASDAQ:BIIB) by 10.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,411 shares of the biotechnology company’s stock after acquiring an additional 135 shares during the period. AIA Group Ltd’s holdings in Biogen were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Biogen by 15.0% during the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after purchasing an additional 2,163,068 shares during the period. International Assets Investment Management LLC raised its position in Biogen by 19,722.9% during the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after buying an additional 357,181 shares during the last quarter. RA Capital Management L.P. raised its position in Biogen by 39.0% during the 1st quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock worth $159,723,000 after buying an additional 207,835 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Biogen by 27.2% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 570,533 shares of the biotechnology company’s stock valued at $123,024,000 after acquiring an additional 122,101 shares in the last quarter. Finally, Primecap Management Co. CA increased its stake in shares of Biogen by 0.7% during the second quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock worth $3,787,543,000 after acquiring an additional 117,578 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Down 0.5 %

Shares of NASDAQ BIIB opened at $173.04 on Friday. The firm has a market cap of $25.22 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 1.65 and a beta of -0.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen Inc. has a 1 year low of $170.71 and a 1 year high of $268.30. The firm’s 50 day moving average price is $189.71 and its 200 day moving average price is $208.71.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.36 earnings per share. As a group, sell-side analysts anticipate that Biogen Inc. will post 16.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. BMO Capital Markets reduced their price objective on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Mizuho decreased their price target on Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. TD Cowen cut their price objective on Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Royal Bank of Canada reduced their target price on Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, Scotiabank cut their price target on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a report on Friday, August 2nd. Ten 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.58.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 431 shares of the stock in a transaction dated 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 directly owns 5,316 shares in the company, valued at $1,085,633.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by company insiders.

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.