Provident Co of the Employees of the Hebrew University LTD Boosts Stock Position in Biogen Inc. (NASDAQ:BIIB)

Provident Co of the Employees of the Hebrew University LTD raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 95.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,059 shares of the biotechnology company’s stock after purchasing an additional 4,416 shares during the quarter. Biogen accounts for 1.6% of Provident Co of the Employees of the Hebrew University LTD’s portfolio, making the stock its 23rd largest position. Provident Co of the Employees of the Hebrew University LTD’s holdings in Biogen were worth $1,384,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after purchasing an additional 248,942 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Biogen by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after acquiring an additional 47,055 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after purchasing an additional 2,648,024 shares during the period. Amundi grew its stake in shares of Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after buying an additional 319,478 shares during the period. Finally, RA Capital Management L.P. increased its holdings in shares of Biogen by 20.6% during the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after buying an additional 202,317 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BIIB has been the subject of several research reports. Stifel Nicolaus downgraded Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a research report on Monday, December 16th. Canaccord Genuity Group dropped their price objective on Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. BMO Capital Markets dropped their price objective on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research note on Thursday, February 13th. Truist Financial dropped their target price on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Mizuho reduced their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $213.33.

Biogen Price Performance

Shares of BIIB stock opened at $139.44 on Monday. The company has a market cap of $20.41 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.51 and a beta of 0.01. 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 Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The business has a fifty day simple moving average of $143.09 and a 200 day simple moving average of $164.02.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share 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%. On average, sell-side analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

About Biogen

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.