Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Impax Asset Management Group plc

Impax Asset Management Group plc increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 40.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Quintet Private Bank Europe S.A. grew its stake in Biogen by 9.7% during the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock worth $138,000 after buying an additional 63 shares during the period. Asset Management One Co. Ltd. boosted its position in Biogen by 0.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 55,355 shares of the biotechnology company’s stock worth $10,730,000 after purchasing an additional 324 shares during the period. National Pension Service boosted its position in Biogen by 10.1% during the 3rd quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock worth $69,699,000 after purchasing an additional 32,914 shares during the period. Old North State Wealth Management LLC increased its holdings in Biogen by 0.7% in the 3rd quarter. Old North State Wealth Management LLC now owns 13,533 shares of the biotechnology company’s stock valued at $2,623,000 after purchasing an additional 100 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Biogen by 27.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 274,708 shares of the biotechnology company’s stock valued at $53,249,000 after purchasing an additional 59,771 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BIIB. Piper Sandler decreased their target price on Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Raymond James restated a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $285.00 to $204.00 in a research note on Thursday, October 31st. JPMorgan Chase & Co. decreased their target price on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday. Finally, BMO Capital Markets dropped their price target on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Ten research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $261.58.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the transaction, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by company insiders.

Biogen Stock Performance

BIIB stock opened at $176.93 on Wednesday. The stock’s 50 day simple moving average is $191.56 and its 200 day simple moving average is $209.34. Biogen Inc. has a 12-month low of $170.71 and a 12-month high of $268.30. The firm has a market cap of $25.78 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.65 and a beta of -0.06. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the company earned $4.36 earnings per share. The firm’s revenue was down 2.5% compared to the same quarter last year. As a group, equities research analysts predict that Biogen Inc. will post 16.4 EPS for the current year.

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.