Intact Investment Management Inc. Has $202,000 Stock Position in Biogen Inc. (NASDAQ:BIIB)

by · The Cerbat Gem

Intact Investment Management Inc. lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) by 70.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,040 shares of the biotechnology company’s stock after selling 2,490 shares during the period. Intact Investment Management Inc.’s holdings in Biogen were worth $202,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Arlington Partners LLC boosted its stake in Biogen by 34.3% during the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock worth $3,724,000 after acquiring an additional 4,902 shares during the last quarter. Duality Advisers LP acquired a new position in Biogen in the first quarter valued at about $1,290,000. Tocqueville Asset Management L.P. raised its position in shares of Biogen by 924.4% during the first quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock worth $9,962,000 after purchasing an additional 41,690 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Biogen by 235.1% during the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock valued at $3,204,000 after purchasing an additional 10,425 shares in the last quarter. Finally, M&G Plc bought a new stake in Biogen during the 1st quarter worth approximately $1,856,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Trading Up 2.0 %

Shares of Biogen stock opened at $176.93 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The business has a fifty day simple moving average of $191.56 and a two-hundred day simple moving average of $209.34. Biogen Inc. has a 1 year low of $170.71 and a 1 year high of $268.30. The company has a market capitalization of $25.78 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 1.65 and a beta of -0.06.

Biogen (NASDAQ:BIIB – Get Free Report) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the company posted $4.36 EPS. Biogen’s quarterly revenue was down 2.5% compared to the same quarter last year. Research analysts forecast that Biogen Inc. will post 16.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BIIB shares. StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Piper Sandler reduced their target price on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Scotiabank lowered their target price on Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a report on Friday, August 2nd. Oppenheimer cut their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Wedbush decreased their price objective on Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Ten analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.58.

View Our Latest Stock Analysis on Biogen

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 431 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

About Biogen

(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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