Charles Schwab Investment Management Inc. Raises Stake in Biogen Inc. (NASDAQ:BIIB)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 0.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 849,000 shares of the biotechnology company’s stock after buying an additional 310 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.59% of Biogen worth $219,696,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Sequoia Financial Advisors LLC increased its stake in shares of Biogen by 2.3% during the third quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock worth $525,000 after purchasing an additional 45 shares in the last quarter. PAX Financial Group LLC increased its position in shares of Biogen by 2.9% during the third quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock worth $405,000 after purchasing an additional 45 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in Biogen by 2.4% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock valued at $502,000 after purchasing an additional 45 shares during the last quarter. Quent Capital LLC boosted its stake in Biogen by 17.0% during the 4th quarter. Quent Capital LLC now owns 337 shares of the biotechnology company’s stock worth $87,000 after purchasing an additional 49 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its holdings in shares of Biogen by 3.1% during the third quarter. Chicago Partners Investment Group LLC now owns 1,650 shares of the biotechnology company’s stock worth $418,000 after buying an additional 50 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Oppenheimer restated an “outperform” rating and issued a $270.00 price objective on shares of Biogen in a report on Monday, April 29th. Needham & Company LLC reissued a “buy” rating and set a $294.00 target price on shares of Biogen in a research report on Wednesday, April 24th. Bank of America dropped their price target on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Wells Fargo & Company downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $315.00 to $240.00 in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $364.00 price objective on shares of Biogen in a research note on Tuesday, March 5th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Biogen has an average rating of “Moderate Buy” and an average price target of $290.92.

Biogen Stock Performance

Shares of BIIB opened at $219.72 on Thursday. The stock has a market capitalization of $31.99 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 2.21 and a beta of -0.01. The business’s fifty day moving average price is $211.85 and its 200 day moving average price 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. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $319.76.

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

Insider Buying and Selling at Biogen

In related news, Director Eric K. Rowinsky purchased 455 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were purchased at an average price of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Biogen news, insider Priya Singhal sold 262 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, the insider now 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric K. Rowinsky bought 455 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were purchased at an average price of $222.54 per share, with a total value of $101,255.70. Following the transaction, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. In the last three months, insiders sold 882 shares of company stock valued at $202,030. 0.60% of the stock is owned by insiders.

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.