Massachusetts Financial Services Co. MA Has $112 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Massachusetts Financial Services Co. MA raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 732,376 shares of the biotechnology company’s stock after purchasing an additional 21,192 shares during the period. Massachusetts Financial Services Co. MA owned 0.50% of Biogen worth $111,995,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Inspire Trust Co. N.A. increased its holdings in Biogen by 58.5% in the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after purchasing an additional 4,025 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Biogen by 0.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after acquiring an additional 111 shares during the last quarter. Centre Asset Management LLC raised its position in shares of Biogen by 7.7% in the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after acquiring an additional 3,698 shares during the period. Amundi boosted its stake in Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after acquiring an additional 319,478 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Biogen by 48.0% during the fourth quarter. Nordea Investment Management AB now owns 117,963 shares of the biotechnology company’s stock valued at $17,901,000 after purchasing an additional 38,283 shares during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Down 5.9 %

BIIB opened at $122.98 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The stock’s fifty day simple moving average is $140.68 and its 200 day simple moving average is $157.90. Biogen Inc. has a 1-year low of $122.77 and a 1-year high of $238.00. The stock has a market cap of $18.00 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BIIB. Piper Sandler reissued a “neutral” rating and set a $135.00 price target (down from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. William Blair reiterated an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Needham & Company LLC restated a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Truist Financial cut their price objective on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Bank of America reissued a “neutral” rating and set a $178.00 target price on shares of Biogen in a research note on Tuesday, December 10th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Biogen presently has an average rating of “Hold” and an average target price of $213.33.

Insider Buying and Selling at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.