Biogen Inc. (NASDAQ:BIIB) Shares Acquired by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 181.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,266 shares of the biotechnology company’s stock after purchasing an additional 28,524 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Biogen were worth $6,769,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC grew its position in Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 141 shares in the last quarter. SRS Capital Advisors Inc. acquired a new position in Biogen in the 4th quarter valued at about $33,000. OFI Invest Asset Management purchased a new position in shares of Biogen in the 4th quarter valued at about $32,000. Itau Unibanco Holding S.A. boosted its stake in shares of Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 90 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in shares of Biogen in the 4th quarter valued at about $41,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BIIB. Morgan Stanley decreased their price objective on Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a research note on Monday, December 16th. BMO Capital Markets decreased their target price on Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. Citigroup decreased their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Royal Bank of Canada decreased their target price on Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $213.33.

Insider Buying and Selling

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Biogen Trading Down 0.3 %

NASDAQ:BIIB opened at $143.09 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $142.70 and its two-hundred day moving average is $163.15. Biogen Inc. has a 52 week low of $128.51 and a 52 week high of $238.00. The company has a market cap of $20.94 billion, a PE ratio of 12.79, a P/E/G ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates 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 predict that Biogen Inc. will post 15.83 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.