4,298 Shares in Biogen Inc. (NASDAQ:BIIB) Acquired by Allstate Corp

Allstate Corp bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,298 shares of the biotechnology company’s stock, valued at approximately $657,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lee Danner & Bass Inc. purchased a new stake in Biogen during the fourth quarter valued at $25,000. Larson Financial Group LLC boosted its position in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 141 shares during the last quarter. SRS Capital Advisors Inc. bought a new stake in shares of Biogen during the 4th quarter valued at about $33,000. OFI Invest Asset Management purchased a new stake in shares of Biogen during the 4th quarter valued at about $32,000. Finally, Itau Unibanco Holding S.A. lifted its stake in shares of Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 90 shares during the period. 87.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Biogen Trading Down 1.1 %

Shares of BIIB stock opened at $136.84 on Tuesday. The company has a market cap of $20.03 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The stock’s 50 day simple moving average is $141.81 and its two-hundred day simple moving average is $159.27. 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 issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a research note on Monday, December 16th. Wells Fargo & Company lowered their target price on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Sanford C. Bernstein started coverage on Biogen in a research report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price target for the company. Finally, Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and decreased their price objective for the stock 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $213.33.

Biogen 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.