B. Metzler seel. Sohn & Co. AG Increases Stock Position in Biogen Inc. (NASDAQ:BIIB)

B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 37.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,128 shares of the biotechnology company’s stock after purchasing an additional 2,767 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Biogen were worth $1,549,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of BIIB. Larson Financial Group LLC increased its position in Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after buying an additional 141 shares in the last quarter. Lee Danner & Bass Inc. purchased a new stake in Biogen during the 4th quarter worth about $25,000. OFI Invest Asset Management acquired a new position in Biogen in the 4th quarter valued at about $32,000. SRS Capital Advisors Inc. purchased a new position in Biogen in the 4th quarter valued at about $33,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Biogen during the 4th quarter worth about $41,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, 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 ownership of the stock. 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.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BIIB shares. Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and reduced their price objective for the company from $250.00 to $180.00 in a research note on Monday, December 9th. Truist Financial decreased their price objective on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Finally, Royal Bank of Canada lowered their price target on Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $213.33.

Biogen Price Performance

BIIB opened at $131.32 on Thursday. The company has a fifty day simple moving average of $141.40 and a 200 day simple moving average of $158.63. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The firm has a market cap of $19.22 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.51 and a beta of 0.01. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping 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%. Equities research analysts expect that Biogen Inc. will post 15.83 EPS 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.