Allianz SE Invests $219,000 in Biogen Inc. (NASDAQ:BIIB)

Allianz SE acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,459 shares of the biotechnology company’s stock, valued at approximately $219,000.

Other hedge funds also recently bought and sold shares of the company. Cornercap Investment Counsel Inc. lifted its holdings in shares of Biogen by 16.6% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 8,239 shares of the biotechnology company’s stock worth $1,260,000 after acquiring an additional 1,174 shares during the last quarter. Allstate Corp bought a new stake in Biogen in the fourth quarter worth $657,000. Orion Portfolio Solutions LLC boosted its position in Biogen by 12.4% during the fourth quarter. Orion Portfolio Solutions LLC now owns 6,846 shares of the biotechnology company’s stock valued at $1,047,000 after buying an additional 754 shares during the period. denkapparat Operations GmbH purchased a new stake in Biogen during the fourth quarter valued at about $248,000. Finally, Norges Bank bought a new position in shares of Biogen during the fourth quarter valued at about $355,569,000. Institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BIIB shares. StockNews.com cut Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Scotiabank cut their target price on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 13th. HC Wainwright lowered their price target on shares of Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Citigroup cut their price target on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, Bank of America reaffirmed a “neutral” rating and set a $178.00 price objective on shares of Biogen in a research note on Tuesday, December 10th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Biogen presently has an average rating of “Hold” and a consensus target price of $213.33.

Biogen Stock Performance

Biogen stock opened at $136.84 on Tuesday. The stock’s 50 day moving average is $141.81 and its 200 day moving average is $159.27. The company has a market capitalization of $20.03 billion, a P/E ratio of 12.23, a PEG ratio of 1.51 and a beta of 0.01. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, equities research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the 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. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by company insiders.

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.