Biogen Inc. (NASDAQ:BIIB) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. grew its position in Biogen Inc. (NASDAQ:BIIB) by 74.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,929 shares of the biotechnology company’s stock after acquiring an additional 12,343 shares during the quarter. Pacer Advisors Inc.’s holdings in Biogen were worth $7,486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BIIB. Altshuler Shaham Ltd acquired a new stake in shares of Biogen during the fourth quarter worth $25,000. OFI Invest Asset Management acquired a new stake in Biogen during the third quarter worth about $26,000. Gladius Capital Management LP bought a new position in Biogen in the third quarter worth about $28,000. KB Financial Partners LLC boosted its stake in Biogen by 105.1% in the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 62 shares during the period. Finally, CVA Family Office LLC bought a new position in shares of Biogen during the fourth quarter valued at approximately $36,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the transaction, the insider now directly owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Eric K. Rowinsky bought 455 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Priya Singhal sold 419 shares of Biogen stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now directly owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The disclosure for this sale can be found here. Insiders have sold 789 shares of company stock worth $182,213 in the last ninety days. Insiders own 0.60% of the company’s stock.

Biogen Trading Up 2.0 %

Shares of NASDAQ:BIIB opened at $216.34 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. The stock’s 50-day moving average is $230.29 and its 200-day moving average is $242.26. The company has a market cap of $31.45 billion, a P/E ratio of 27.11, a P/E/G ratio of 1.81 and a beta of -0.03. Biogen Inc. has a 52-week low of $211.01 and a 52-week high of $319.76.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same period last year, the business earned $4.05 EPS. Equities research analysts predict that Biogen Inc. will post 15.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BIIB shares. Wells Fargo & Company downgraded Biogen from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $315.00 to $240.00 in a research note on Wednesday, February 14th. BTIG Research reaffirmed a “neutral” rating on shares of Biogen in a report on Sunday, January 7th. BMO Capital Markets reduced their target price on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Royal Bank of Canada restated an “outperform” rating and issued a $364.00 price target on shares of Biogen in a research note on Tuesday, March 5th. Finally, Oppenheimer reduced their price objective on Biogen from $295.00 to $290.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, Biogen has a consensus rating of “Moderate Buy” and an average target price of $305.68.

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.