Elo Mutual Pension Insurance Co Decreases Stock Position in Biogen Inc. (NASDAQ:BIIB)

Elo Mutual Pension Insurance Co decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,073 shares of the biotechnology company’s stock after selling 153 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Biogen were worth $3,031,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BIIB. Blair William & Co. IL grew its holdings in Biogen by 1.8% during the 2nd quarter. Blair William & Co. IL now owns 13,094 shares of the biotechnology company’s stock valued at $3,035,000 after buying an additional 227 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Biogen by 27.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,261 shares of the biotechnology company’s stock worth $3,074,000 after acquiring an additional 2,855 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Biogen by 6.1% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,229 shares of the biotechnology company’s stock valued at $517,000 after acquiring an additional 128 shares during the last quarter. E Fund Management Co. Ltd. grew its holdings in shares of Biogen by 68.9% in the second quarter. E Fund Management Co. Ltd. now owns 7,067 shares of the biotechnology company’s stock valued at $1,638,000 after purchasing an additional 2,884 shares in the last quarter. Finally, Alpha Family Trust bought a new stake in Biogen in the second quarter worth $243,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on BIIB. Cantor Fitzgerald reiterated an “overweight” rating and set a $292.00 price objective on shares of Biogen in a research report on Monday, September 9th. Scotiabank lowered their price target on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a report on Friday, August 2nd. Barclays reduced their price objective on Biogen from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Piper Sandler decreased their price objective on Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Wells Fargo & Company dropped their target price on Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $275.52.

Biogen Price Performance

Biogen stock opened at $201.44 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. The stock has a market cap of $29.33 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 2.01 and a beta of -0.06. The firm has a 50-day moving average of $207.92 and a two-hundred day moving average of $215.17. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $269.43.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. Biogen’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.02 earnings per share. On average, research analysts forecast that Biogen Inc. will post 16.12 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Priya Singhal sold 431 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 of the company’s stock, valued at approximately $1,085,633.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by company insiders.

Biogen Company 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.