Investment House LLC raised its position in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,336 shares of the biotechnology company’s stock after acquiring an additional 100 shares during the period. Investment House LLC’s holdings in Biogen were worth $857,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in BIIB. Norges Bank bought a new position in shares of Biogen in the fourth quarter worth about $362,129,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Biogen by 49.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company’s stock worth $580,627,000 after purchasing an additional 691,843 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Biogen by 204.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 446,602 shares of the biotechnology company’s stock worth $114,781,000 after purchasing an additional 300,086 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Biogen by 24.5% in the third quarter. Van ECK Associates Corp now owns 1,189,546 shares of the biotechnology company’s stock worth $305,725,000 after purchasing an additional 233,889 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Biogen by 113.6% in the first quarter. AQR Capital Management LLC now owns 422,486 shares of the biotechnology company’s stock worth $117,012,000 after purchasing an additional 224,668 shares during the last quarter. 85.99% of the stock is currently owned by institutional investors.
Biogen Stock Performance
Shares of Biogen stock opened at $240.98 on Monday. The firm has a market capitalization of $34.92 billion and a P/E ratio of 23.95. The company has a quick ratio of 1.09, a current ratio of 1.68 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average price of $249.60 and a 200 day moving average price of $252.44. Biogen Inc. has a 52 week low of $220.86 and a 52 week high of $319.76.
Insider Activity at Biogen
Wall Street Analyst Weigh In
A number of research firms have recently commented on BIIB. Royal Bank of Canada upped their price target on shares of Biogen from $351.00 to $363.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $305.00 price objective on shares of Biogen in a research note on Thursday, October 26th. Oppenheimer reaffirmed an “outperform” rating and issued a $295.00 price objective on shares of Biogen in a research note on Tuesday, January 30th. Stifel Nicolaus lowered their price objective on shares of Biogen from $315.00 to $287.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of Biogen in a research note on Wednesday, January 10th. Seven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $318.17.
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 offers 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.
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