Generali Investments Management Co LLC Invests $410,000 in Biogen Inc. (NASDAQ:BIIB)

Generali Investments Management Co LLC bought a new position in Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, HoldingsChannel reports. The firm bought 2,678 shares of the biotechnology company’s stock, valued at approximately $410,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. boosted its holdings in Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after acquiring an additional 2,648,024 shares during the period. Van ECK Associates Corp boosted its holdings in Biogen by 977.9% during the 4th quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock valued at $163,083,000 after acquiring an additional 967,523 shares during the period. Amundi boosted its holdings in Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after acquiring an additional 319,478 shares during the period. Erste Asset Management GmbH purchased a new position in Biogen during the 3rd quarter valued at $55,826,000. Finally, State Street Corp boosted its holdings in Biogen by 3.5% during the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after acquiring an additional 248,942 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price objective on Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Scotiabank dropped their price objective on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group lowered their target price on Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Finally, Bank Of America (Bofa) lowered their target price on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Biogen presently has an average rating of “Hold” and a consensus price target of $213.33.

Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Biogen Trading Down 0.3 %

Shares of NASDAQ:BIIB opened at $143.09 on Wednesday. The business’s 50-day moving average is $142.70 and its 200 day moving average is $163.15. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The firm has a market capitalization of $20.94 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

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

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.