Biogen Inc. (NASDAQ:BIIB) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 17.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 198,326 shares of the biotechnology company’s stock after acquiring an additional 29,294 shares during the period. ProShare Advisors LLC’s holdings in Biogen were worth $30,328,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Quantinno Capital Management LP raised its position in shares of Biogen by 104.8% during the 4th quarter. Quantinno Capital Management LP now owns 6,284 shares of the biotechnology company’s stock worth $961,000 after acquiring an additional 3,215 shares in the last quarter. Mufg Securities Americas Inc. acquired a new stake in shares of Biogen during the 4th quarter worth about $329,000. Patient Capital Management LLC raised its position in shares of Biogen by 61.7% during the 4th quarter. Patient Capital Management LLC now owns 413,960 shares of the biotechnology company’s stock worth $63,303,000 after acquiring an additional 158,018 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its position in shares of Biogen by 3.2% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 43,879 shares of the biotechnology company’s stock worth $6,639,000 after acquiring an additional 1,379 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its position in shares of Biogen by 20.2% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 6,044 shares of the biotechnology company’s stock worth $924,000 after acquiring an additional 1,015 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Up 1.5%

Biogen stock opened at $125.59 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $238.00. The company has a market cap of $18.40 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12. The stock’s 50 day moving average price is $125.96 and its 200 day moving average price is $142.58.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the firm earned $3.67 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on BIIB. Hsbc Global Res lowered Biogen from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Morgan Stanley cut their price target on Biogen from $157.00 to $152.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. Sanford C. Bernstein began coverage on Biogen in a research report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price target on the stock. Mizuho cut their price target on Biogen from $207.00 to $169.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Finally, Royal Bank of Canada cut their price target on Biogen from $217.00 to $205.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Biogen currently has an average rating of “Hold” and a consensus price target of $191.30.

Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63% 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 link. Company insiders own 0.16% of the company’s stock.

Biogen 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.