Charles Schwab Investment Management Inc. Increases Position in Biogen Inc. (NASDAQ:BIIB)

Charles Schwab Investment Management Inc. raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 0.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 849,000 shares of the biotechnology company’s stock after buying an additional 310 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Biogen were worth $219,696,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP increased its holdings in Biogen by 0.5% in the third quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock valued at $1,381,251,000 after buying an additional 27,951 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Biogen by 2.8% in the 3rd quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock valued at $422,276,000 after acquiring an additional 45,437 shares during the last quarter. Morgan Stanley raised its position in shares of Biogen by 4.3% during the 3rd quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock valued at $383,745,000 after acquiring an additional 61,814 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Biogen by 19.5% during the 4th quarter. Van ECK Associates Corp now owns 1,421,196 shares of the biotechnology company’s stock valued at $367,763,000 after acquiring an additional 231,650 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Biogen by 19.1% during the third quarter. Invesco Ltd. now owns 1,181,374 shares of the biotechnology company’s stock worth $303,625,000 after purchasing an additional 189,368 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Biogen

In related news, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the acquisition, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now directly owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eric K. Rowinsky purchased 455 shares of the stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 882 shares of company stock valued at $202,030. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BIIB. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $311.00 price objective on shares of Biogen in a research report on Tuesday, February 20th. Wells Fargo & Company downgraded Biogen from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $315.00 to $240.00 in a report on Wednesday, February 14th. StockNews.com downgraded Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. Robert W. Baird cut their target price on Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Biogen has an average rating of “Moderate Buy” and a consensus target price of $290.92.

Biogen Stock Performance

Shares of BIIB stock opened at $219.72 on Thursday. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $319.76. The stock’s 50-day moving average is $211.85 and its two-hundred day moving average is $231.09. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32. The firm has a market cap of $31.99 billion, a P/E ratio of 27.43, a PEG ratio of 2.21 and a beta of -0.01.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.45 by $0.22. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.40 EPS. Analysts predict that Biogen Inc. will post 15.6 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.