Alberta Investment Management Corp Grows Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Alberta Investment Management Corp grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 138.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 33,180 shares of the biotechnology company’s stock after purchasing an additional 19,280 shares during the period. Alberta Investment Management Corp’s holdings in Biogen were worth $5,074,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. New York State Common Retirement Fund lifted its holdings in shares of Biogen by 17.2% during the fourth quarter. New York State Common Retirement Fund now owns 111,016 shares of the biotechnology company’s stock valued at $16,977,000 after purchasing an additional 16,271 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Biogen by 93.9% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 8,365 shares of the biotechnology company’s stock worth $1,279,000 after acquiring an additional 4,052 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Biogen in the 4th quarter worth approximately $751,000. CIBC Asset Management Inc raised its holdings in Biogen by 3.6% in the 4th quarter. CIBC Asset Management Inc now owns 46,807 shares of the biotechnology company’s stock worth $7,158,000 after acquiring an additional 1,623 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in Biogen in the 4th quarter worth approximately $2,993,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. TD Cowen decreased their price objective on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Morgan Stanley decreased their price objective on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a 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, Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $211.85.

Biogen Trading Down 0.0 %

Shares of Biogen stock opened at $136.54 on Thursday. The company has a market capitalization of $19.99 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.47 and a beta of -0.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The company has a fifty day moving average of $146.13 and a 200 day moving average of $171.71. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping 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%. On average, sell-side analysts anticipate that Biogen Inc. will post 15.89 earnings per share 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.