Empirical Finance LLC Has $983,000 Holdings in Biogen Inc. (NASDAQ:BIIB)

Empirical Finance LLC lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 2.0% during the 3rd quarter, Holdings Channel reports. The firm owned 5,070 shares of the biotechnology company’s stock after purchasing an additional 101 shares during the period. Empirical Finance LLC’s holdings in Biogen were worth $983,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Biogen by 15.0% during the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after buying an additional 2,163,068 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Biogen by 19,722.9% during the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after purchasing an additional 357,181 shares in the last quarter. RA Capital Management L.P. increased its position in shares of Biogen by 39.0% in the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock worth $159,723,000 after purchasing an additional 207,835 shares during the period. Primecap Management Co. CA raised its stake in Biogen by 0.7% in the second quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock valued at $3,787,543,000 after purchasing an additional 117,578 shares in the last quarter. Finally, Swedbank AB bought a new stake in Biogen during the first quarter worth about $22,939,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This trade represents a 7.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

BIIB has been the subject of several analyst reports. Wolfe Research initiated coverage on shares of Biogen in a research report on Friday. They issued a “peer perform” rating for the company. Wells Fargo & Company decreased their price objective on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Citigroup assumed coverage on Biogen in a research note on Thursday. They set a “neutral” rating and a $190.00 target price for the company. Truist Financial reaffirmed a “buy” rating and issued a $302.00 target price (down previously from $340.00) on shares of Biogen in a report on Monday, August 5th. Finally, StockNews.com raised Biogen from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Twelve investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $258.96.

Biogen Trading Down 3.0 %

NASDAQ BIIB opened at $159.99 on Friday. The firm has a market capitalization of $23.31 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 1.57 and a beta of -0.06. The business’s 50-day moving average price is $185.99 and its two-hundred day moving average price is $207.33. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12 month low of $159.60 and a 12 month high of $268.30.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.36 earnings per share. On average, analysts expect that Biogen Inc. will post 16.4 EPS for the current year.

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.