Biogen Inc. (NASDAQ:BIIB) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in Biogen Inc. (NASDAQ:BIIB) by 19.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,421,196 shares of the biotechnology company’s stock after acquiring an additional 231,650 shares during the period. Van ECK Associates Corp’s holdings in Biogen were worth $367,763,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. ICICI Prudential Asset Management Co Ltd lifted its stake in shares of Biogen by 15.0% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock valued at $9,313,000 after purchasing an additional 4,693 shares in the last quarter. Boone Capital Management LLC raised its position in Biogen by 52.9% in the third quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock valued at $24,703,000 after purchasing an additional 33,238 shares during the period. iA Global Asset Management Inc. grew its stake in shares of Biogen by 35.2% in the third quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock valued at $3,102,000 after buying an additional 3,145 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Biogen by 13.8% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock valued at $17,577,000 after buying an additional 8,291 shares during the period. Finally, Dynamic Advisor Solutions LLC boosted its holdings in Biogen by 6.2% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock worth $1,251,000 after acquiring an additional 285 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Performance

Shares of NASDAQ:BIIB traded up $6.60 on Monday, hitting $215.50. The company’s stock had a trading volume of 2,068,013 shares, compared to its average volume of 1,216,006. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $319.76. The stock’s 50-day moving average is $212.55 and its two-hundred day moving average is $233.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10. The company has a market capitalization of $31.38 billion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 2.13 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the firm posted $3.40 EPS. Biogen’s revenue was down 7.0% compared to the same quarter last year. On average, equities research analysts forecast that Biogen Inc. will post 15.57 EPS for the current year.

Insider Transactions at Biogen

In other Biogen news, Director Eric K. Rowinsky purchased 455 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Eric K. Rowinsky acquired 455 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the transaction, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Priya Singhal sold 262 shares of Biogen stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 882 shares of company stock valued at $202,030. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $294.00 target price on shares of Biogen in a research report on Wednesday, April 24th. Bank Of America (Bofa) cut their price target on Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Monday, February 12th. Piper Sandler dropped their price objective on Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Mizuho reduced their target price on Biogen from $355.00 to $277.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Finally, Truist Financial restated a “buy” rating and issued a $340.00 price target on shares of Biogen in a research note on Monday, March 25th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Biogen currently has a consensus rating of “Moderate Buy” and an average target price of $293.88.

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 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.