Harvest Fund Management Co. Ltd Acquires 1,866 Shares of Biogen Inc. (NASDAQ:BIIB)

Harvest Fund Management Co. Ltd grew its stake in Biogen Inc. (NASDAQ:BIIB) by 27.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,576 shares of the biotechnology company’s stock after purchasing an additional 1,866 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Biogen were worth $1,311,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Caprock Group LLC boosted its holdings in Biogen by 16.3% during the third quarter. Caprock Group LLC now owns 3,118 shares of the biotechnology company’s stock worth $604,000 after buying an additional 437 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Biogen in the 3rd quarter valued at approximately $1,427,000. Commerce Bank boosted its stake in Biogen by 11.4% during the 3rd quarter. Commerce Bank now owns 9,915 shares of the biotechnology company’s stock worth $1,922,000 after acquiring an additional 1,014 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Biogen by 2.2% during the third quarter. Advisors Asset Management Inc. now owns 6,696 shares of the biotechnology company’s stock valued at $1,298,000 after purchasing an additional 147 shares during the period. Finally, Grandfield & Dodd LLC increased its stake in Biogen by 5.2% in the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 62 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Down 1.2 %

Shares of BIIB opened at $141.43 on Thursday. The firm has a market cap of $20.70 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a 52 week low of $128.51 and a 52 week high of $238.00. The firm’s 50-day simple moving average is $142.51 and its 200 day simple moving average is $163.00.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS 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, analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Insiders Place Their Bets

In related 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 transaction, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BIIB. Sanford C. Bernstein began coverage on shares of Biogen in a report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price target for the company. Scotiabank lowered their price target on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective on the stock. in a report on Monday, December 16th. Piper Sandler reiterated a “neutral” rating and issued a $135.00 price objective (down from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Finally, StockNews.com downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Biogen presently has an average rating of “Hold” and a consensus price target of $213.33.

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.