Impax Asset Management Group plc Increases Stock Position in Biogen Inc. (NASDAQ:BIIB)

Impax Asset Management Group plc boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 40.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,810 shares of the biotechnology company’s stock after purchasing an additional 11,185 shares during the quarter. Impax Asset Management Group plc’s holdings in Biogen were worth $7,523,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of 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 during the period. International Assets Investment Management LLC raised its stake in 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 valued at $695,870,000 after acquiring an additional 357,181 shares during the last quarter. RA Capital Management L.P. lifted its position in Biogen by 39.0% during the 1st quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock worth $159,723,000 after acquiring an additional 207,835 shares during the period. SG Americas Securities LLC grew its stake in shares of Biogen by 1,227.4% in the 1st quarter. SG Americas Securities LLC now owns 176,262 shares of the biotechnology company’s stock valued at $38,007,000 after purchasing an additional 162,983 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Biogen by 27.2% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 570,533 shares of the biotechnology company’s stock valued at $123,024,000 after purchasing an additional 122,101 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares of the company’s stock, valued at $1,085,633.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BIIB shares. Royal Bank of Canada lowered their price objective on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Barclays dropped their price target on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. HC Wainwright restated a “buy” rating and issued a $300.00 price objective on shares of Biogen in a research report on Thursday, October 31st. Truist Financial reissued a “buy” rating and set a $302.00 target price (down from $340.00) on shares of Biogen in a research note on Monday, August 5th. Finally, UBS Group decreased their price target on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Ten 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 company’s stock. According to MarketBeat, Biogen has an average rating of “Moderate Buy” and a consensus target price of $261.58.

Biogen Stock Performance

Shares of BIIB opened at $176.93 on Wednesday. The company has a market capitalization of $25.78 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.65 and a beta of -0.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen Inc. has a 1 year low of $170.71 and a 1 year high of $268.30. The company’s 50 day simple moving average is $191.56 and its 200 day simple moving average is $209.34.

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