Sentry Investment Management LLC Boosts Position in Biogen Inc. (NASDAQ:BIIB)

Sentry Investment Management LLC increased its holdings in Biogen Inc. (NASDAQ:BIIB) by 62.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 685 shares of the biotechnology company’s stock after acquiring an additional 263 shares during the quarter. Sentry Investment Management LLC’s holdings in Biogen were worth $133,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in BIIB. Vanguard Group Inc. raised its holdings in Biogen by 15.0% in the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after purchasing an additional 2,163,068 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Biogen by 19,722.9% during the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after purchasing an additional 357,181 shares during the last quarter. RA Capital Management L.P. increased its position in Biogen by 39.0% during the 1st quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after buying an additional 207,835 shares in the last quarter. SG Americas Securities LLC increased its position in Biogen by 1,227.4% during the 1st quarter. SG Americas Securities LLC now owns 176,262 shares of the biotechnology company’s stock valued at $38,007,000 after buying an additional 162,983 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Biogen by 27.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 570,533 shares of the biotechnology company’s stock valued at $123,024,000 after buying an additional 122,101 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling

In related news, insider Priya Singhal sold 431 shares of the stock in a transaction 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 sale, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BIIB shares. TD Cowen cut their target price on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Royal Bank of Canada dropped their price objective on Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Wells Fargo & Company lowered their price target on Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Piper Sandler cut their price target on Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price target on shares of Biogen in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $261.58.

Biogen Price Performance

Shares of Biogen stock opened at $176.93 on Wednesday. The firm has a market cap of $25.78 billion, a PE ratio of 15.98, a PEG ratio of 1.65 and a beta of -0.06. The stock has a 50 day moving average of $191.56 and a 200 day moving average of $209.34. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12 month low of $170.71 and a 12 month high of $268.30.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the company earned $4.36 EPS. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, research analysts expect that Biogen Inc. will post 16.4 EPS 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.