Avanza Fonder AB Takes $2.38 Million Position in Biogen Inc. (NASDAQ:BIIB)

Avanza Fonder AB purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 15,536 shares of the biotechnology company’s stock, valued at approximately $2,376,000.

Other institutional investors have also added to or reduced their stakes in the company. Moors & Cabot Inc. increased its holdings in shares of Biogen by 11.3% during the second quarter. Moors & Cabot Inc. now owns 1,130 shares of the biotechnology company’s stock worth $262,000 after purchasing an additional 115 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Biogen by 6.1% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,229 shares of the biotechnology company’s stock worth $517,000 after purchasing an additional 128 shares during the period. Blair William & Co. IL raised its stake in Biogen by 1.8% in the second quarter. Blair William & Co. IL now owns 13,094 shares of the biotechnology company’s stock valued at $3,035,000 after purchasing an additional 227 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Biogen by 59.1% during the second quarter. Canada Pension Plan Investment Board now owns 173,664 shares of the biotechnology company’s stock worth $40,259,000 after purchasing an additional 64,505 shares during the period. Finally, AE Wealth Management LLC acquired a new stake in Biogen during the second quarter worth about $259,000. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Down 0.5 %

Biogen stock opened at $140.55 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $20.48 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.69 and a beta of -0.07. The firm has a 50 day moving average price of $154.27 and a 200-day moving average price of $184.55. Biogen Inc. has a twelve month low of $140.05 and a twelve month high of $252.17.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping 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 analyst estimates of $2.43 billion. During the same period last year, the company earned $4.36 earnings per share. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities analysts predict that Biogen Inc. will post 16.43 EPS for the current year.

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of recent analyst reports. Robert W. Baird upped their price target on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Needham & Company LLC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 target price on the stock. in a research report on Monday, November 18th. StockNews.com downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Piper Sandler lowered Biogen from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $315.00 to $138.00 in a research report on Thursday, January 2nd. Finally, Raymond James reiterated a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $230.00.

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.