Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD Makes New $8.34 Million Investment in Biogen Inc. (NASDAQ:BIIB)

Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 54,585 shares of the biotechnology company’s stock, valued at approximately $8,340,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD purchased a new position in Biogen during the 4th quarter worth approximately $2,860,000. Hopwood Financial Services Inc. purchased a new position in shares of Biogen during the 4th quarter valued at $46,000. EverSource Wealth Advisors LLC grew its holdings in shares of Biogen by 662.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,448 shares of the biotechnology company’s stock valued at $221,000 after acquiring an additional 1,258 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Biogen by 31.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,026 shares of the biotechnology company’s stock valued at $463,000 after acquiring an additional 729 shares in the last quarter. Finally, Moors & Cabot Inc. grew its holdings in shares of Biogen by 19.2% during the 4th quarter. Moors & Cabot Inc. now owns 1,335 shares of the biotechnology company’s stock valued at $204,000 after acquiring an additional 215 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on BIIB shares. Stifel Nicolaus lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a research report on Monday, December 16th. Mizuho cut their target price on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Truist Financial cut their target price on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Citigroup cut their target price on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Biogen has a consensus rating of “Hold” and a consensus target price of $213.33.

Biogen Stock Performance

NASDAQ BIIB opened at $143.66 on Wednesday. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The firm has a market cap of $21.03 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.51 and a beta of 0.01. The company has a fifty day moving average price of $143.80 and a 200-day moving average price of $165.37.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, equities research analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 8,760 shares of the 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

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.