Biogen Inc. (NASDAQ:BIIB) Holdings Boosted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 29.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 711,184 shares of the biotechnology company’s stock after purchasing an additional 162,511 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.49% of Biogen worth $137,856,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BIIB. First Horizon Advisors Inc. grew its position in Biogen by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after buying an additional 49 shares in the last quarter. Plato Investment Management Ltd increased its position 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 purchasing an additional 53 shares during the period. CWM LLC lifted its position in Biogen by 1.7% in the second quarter. CWM LLC now owns 3,765 shares of the biotechnology company’s stock worth $873,000 after purchasing an additional 62 shares during the period. Grandfield & Dodd LLC boosted its stake in Biogen by 5.2% during the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock worth $244,000 after buying an additional 62 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. increased its holdings in Biogen by 9.7% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 63 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on BIIB shares. Mizuho decreased their target price on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research report on Thursday. HC Wainwright reiterated a “buy” rating and issued a $300.00 price objective on shares of Biogen in a research note on Thursday, October 31st. StockNews.com raised Biogen from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Oppenheimer decreased their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Finally, UBS Group cut their price objective on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Biogen currently has an average rating of “Moderate Buy” and a consensus target price of $257.20.

Biogen Stock Down 0.1 %

Shares of NASDAQ BIIB opened at $157.90 on Friday. Biogen Inc. has a 1 year low of $153.62 and a 1 year high of $268.30. The firm’s 50-day moving average is $181.85 and its 200-day moving average is $205.22. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $23.01 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 1.49 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the firm earned $4.36 earnings per share. Equities analysts expect that Biogen Inc. will post 16.44 EPS for the current year.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 431 shares of the business’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 completion of the transaction, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. The trade was a 7.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently 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.