Sava Infond d.o.o. Takes Position in Biogen Inc. (NASDAQ:BIIB)

Sava Infond d.o.o. purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,650 shares of the biotechnology company’s stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BIIB. Elo Mutual Pension Insurance Co lifted its position in shares of Biogen by 25.0% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 16,100 shares of the biotechnology company’s stock worth $2,462,000 after purchasing an additional 3,216 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Biogen by 9.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245,814 shares of the biotechnology company’s stock worth $37,415,000 after buying an additional 22,182 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Biogen by 3.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 81,614 shares of the biotechnology company’s stock worth $12,480,000 after buying an additional 2,443 shares in the last quarter. TIAA Trust National Association boosted its position in Biogen by 3.1% in the 4th quarter. TIAA Trust National Association now owns 3,575 shares of the biotechnology company’s stock valued at $547,000 after buying an additional 108 shares during the last quarter. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Biogen during the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of analyst reports. Scotiabank reduced their price target on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. Bank of America reissued a “neutral” rating and set a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. HC Wainwright cut their price target on shares of Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Royal Bank of Canada decreased their price objective on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and cut their target price for the company from $250.00 to $180.00 in a research note on Monday, December 9th. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Biogen has a consensus rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Performance

BIIB stock opened at $140.33 on Friday. The company has a 50-day simple moving average of $141.92 and a 200 day simple moving average of $160.68. The company has a market capitalization of $20.54 billion, a P/E ratio of 12.54, a PEG ratio of 1.51 and a beta of 0.01. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Sell-side analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal 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.