abrdn plc Has $113.10 Million Holdings in Biogen Inc. (NASDAQ:BIIB)

abrdn plc increased its stake in shares of Biogen Inc. (NASDAQ:BIIBFree Report) by 237.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 437,075 shares of the biotechnology company’s stock after purchasing an additional 307,532 shares during the period. abrdn plc owned approximately 0.30% of Biogen worth $113,102,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BIIB. Altshuler Shaham Ltd bought a new position in Biogen during the fourth quarter worth about $25,000. OFI Invest Asset Management bought a new position in Biogen during the third quarter worth about $26,000. Gladius Capital Management LP bought a new position in Biogen during the third quarter worth about $28,000. KB Financial Partners LLC lifted its holdings in Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 62 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in Biogen during the fourth quarter worth about $36,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Price Performance

Biogen stock opened at $194.38 on Friday. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $319.76. The stock’s 50 day moving average is $215.23 and its 200-day moving average is $235.73. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $28.26 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.85 and a beta of -0.02.

Biogen (NASDAQ:BIIBGet Free Report) last posted its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the company posted $4.05 EPS. Equities research analysts expect that Biogen Inc. will post 15.48 EPS for the current year.

Insider Activity

In related news, insider Priya Singhal sold 419 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the sale, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Priya Singhal sold 419 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the sale, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 882 shares of company stock valued at $202,030. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BIIB. StockNews.com lowered Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Truist Financial restated a “buy” rating and issued a $340.00 price target on shares of Biogen in a report on Monday, March 25th. William Blair restated an “outperform” rating on shares of Biogen in a report on Monday, April 1st. BMO Capital Markets cut their price target on Biogen from $295.00 to $285.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $311.00 price target on shares of Biogen in a report on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $295.58.

Check Out Our Latest Report on BIIB

Biogen Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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