MetLife Investment Management LLC Has $7.34 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

MetLife Investment Management LLC decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 2.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 37,874 shares of the biotechnology company’s stock after selling 962 shares during the period. MetLife Investment Management LLC’s holdings in Biogen were worth $7,341,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kennedy Capital Management LLC acquired a new stake in shares of Biogen in the first quarter worth about $500,000. Janus Henderson Group PLC lifted its holdings in Biogen by 66.0% in the 1st quarter. Janus Henderson Group PLC now owns 35,159 shares of the biotechnology company’s stock worth $7,581,000 after purchasing an additional 13,985 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Biogen by 2.9% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,475 shares of the biotechnology company’s stock worth $749,000 after purchasing an additional 97 shares during the period. Tidal Investments LLC grew its holdings in Biogen by 99.1% during the first quarter. Tidal Investments LLC now owns 10,211 shares of the biotechnology company’s stock valued at $2,202,000 after purchasing an additional 5,082 shares during the last quarter. Finally, Comerica Bank raised its position in shares of Biogen by 2.9% in the first quarter. Comerica Bank now owns 42,314 shares of the biotechnology company’s stock valued at $9,124,000 after purchasing an additional 1,210 shares during the period. Institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction 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 owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. The trade was a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Oppenheimer lowered their target price on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Barclays lowered their price target on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Mizuho cut their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Needham & Company LLC lowered Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target for the company. in a report on Monday, November 18th. Finally, BMO Capital Markets lowered their price objective on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Biogen presently has an average rating of “Moderate Buy” and an average price target of $257.20.

Biogen Stock Up 0.5 %

Shares of NASDAQ BIIB opened at $160.63 on Friday. The business has a fifty day moving average of $177.86 and a two-hundred day moving average of $203.15. 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 52-week low of $153.62 and a 52-week high of $268.30. The stock has a market cap of $23.41 billion, a PE ratio of 14.51, a PEG ratio of 1.51 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results 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 firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.36 earnings per share. As a group, equities research analysts expect that Biogen Inc. will post 16.44 earnings per share for the current fiscal year.

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.