TD Asset Management Inc Has $61.58 Million Holdings in Biogen Inc. (NASDAQ:BIIB)

TD Asset Management Inc raised its stake in Biogen Inc. (NASDAQ:BIIB) by 38.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,184 shares of the biotechnology company’s stock after acquiring an additional 60,325 shares during the quarter. TD Asset Management Inc owned about 0.15% of Biogen worth $61,580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Biogen by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock valued at $2,468,356,000 after purchasing an additional 183,285 shares during the last quarter. State Street Corp boosted its stake in shares of Biogen by 2.8% in the 1st quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company’s stock valued at $1,518,196,000 after purchasing an additional 197,400 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Biogen by 0.8% in the 1st quarter. Wellington Management Group LLP now owns 5,452,888 shares of the biotechnology company’s stock valued at $1,516,066,000 after purchasing an additional 41,675 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Biogen by 771.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,556,583 shares of the biotechnology company’s stock valued at $90,400,000 after purchasing an additional 2,263,120 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Biogen by 49.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company’s stock valued at $580,627,000 after purchasing an additional 691,843 shares during the last quarter. Institutional investors and hedge funds own 85.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BIIB shares. Wells Fargo & Company raised their target price on shares of Biogen from $343.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, November 9th. BMO Capital Markets reduced their price objective on shares of Biogen from $314.00 to $295.00 and set an “outperform” rating on the stock in a research note on Thursday, November 9th. Truist Financial reduced their price objective on shares of Biogen to $340.00 and set a “buy” rating on the stock in a research note on Tuesday, August 8th. Stifel Nicolaus reduced their price objective on shares of Biogen from $324.00 to $320.00 and set a “buy” rating on the stock in a research note on Tuesday, July 25th. Finally, Barclays cut their price target on shares of Biogen from $311.00 to $294.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 8th. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Biogen currently has an average rating of “Moderate Buy” and an average price target of $326.08.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $269.43, for a total value of $116,124.33. Following the completion of the sale, the insider now owns 3,354 shares of the company’s stock, valued at $903,668.22. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.60% of the company’s stock.

Biogen Trading Up 1.2 %

BIIB stock opened at $225.26 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.68 and a quick ratio of 1.09. The company has a fifty day moving average price of $252.28 and a two-hundred day moving average price of $274.38. Biogen Inc. has a one year low of $220.86 and a one year high of $319.76. The stock has a market cap of $32.64 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 2.17 and a beta of 0.10.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, November 8th. The biotechnology company reported $4.36 EPS for the quarter, topping analysts’ consensus estimates of $3.99 by $0.37. Biogen had a net margin of 14.63% and a return on equity of 16.40%. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the business posted $4.77 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts anticipate that Biogen Inc. will post 14.92 EPS for the current 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 offers 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.