E Fund Management Co. Ltd. Purchases 353 Shares of Biogen Inc. (NASDAQ:BIIB)

E Fund Management Co. Ltd. grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 9.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,055 shares of the biotechnology company’s stock after purchasing an additional 353 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Biogen were worth $1,049,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in Biogen by 24,726.3% in the 4th quarter. International Assets Investment Management LLC now owns 476,913 shares of the biotechnology company’s stock worth $123,411,000 after acquiring an additional 474,992 shares in the last quarter. abrdn plc raised its position in shares of Biogen by 237.4% during the 4th quarter. abrdn plc now owns 437,075 shares of the biotechnology company’s stock valued at $113,102,000 after purchasing an additional 307,532 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Biogen by 204.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 446,602 shares of the biotechnology company’s stock valued at $114,781,000 after buying an additional 300,086 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Biogen by 24.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,189,546 shares of the biotechnology company’s stock worth $305,725,000 after buying an additional 233,889 shares during the period. Finally, American Century Companies Inc. increased its stake in Biogen by 28.7% in the 3rd quarter. American Century Companies Inc. now owns 898,928 shares of the biotechnology company’s stock worth $231,033,000 after buying an additional 200,310 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 419 shares of the 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 completion of the sale, the insider now directly owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Eric K. Rowinsky purchased 455 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were acquired at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Priya Singhal sold 419 shares of the company’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 transaction, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The disclosure for this sale can be found here. Insiders have sold 882 shares of company stock worth $202,030 over the last quarter. Insiders own 0.60% of the company’s stock.

Biogen Stock Up 1.4 %

Shares of NASDAQ BIIB traded up $3.03 during midday trading on Thursday, reaching $222.75. 754,463 shares of the company’s stock traded hands, compared to its average volume of 1,197,173. The company has a market cap of $32.43 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 2.21 and a beta of -0.01. The stock’s 50 day simple moving average is $211.85 and its 200-day simple moving average is $231.09. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. Biogen Inc. has a one year low of $189.44 and a one year high of $319.76.

Biogen (NASDAQ:BIIB) last announced its quarterly 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. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same period last year, the business posted $3.40 EPS. On average, analysts predict that Biogen Inc. will post 15.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BIIB shares. Barclays cut their target price on Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. lowered their target price on Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. HSBC boosted their price target on shares of Biogen from $339.00 to $342.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Piper Sandler lowered their price objective on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Finally, Mizuho decreased their target price on shares of Biogen from $355.00 to $277.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $290.92.

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.