Plato Investment Management Ltd Buys Shares of 1,037 Biogen Inc. (NASDAQ:BIIB)

Plato Investment Management Ltd bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,037 shares of the biotechnology company’s stock, valued at approximately $159,000.

Several other institutional investors also recently modified their holdings of BIIB. Robeco Institutional Asset Management B.V. grew its holdings in Biogen by 27.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 274,708 shares of the biotechnology company’s stock valued at $53,249,000 after purchasing an additional 59,771 shares during the period. National Pension Service boosted its position in shares of Biogen by 10.1% during the third quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock worth $69,699,000 after purchasing an additional 32,914 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Biogen by 0.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 55,355 shares of the biotechnology company’s stock valued at $10,730,000 after buying an additional 324 shares during the period. Quintet Private Bank Europe S.A. increased its position in shares of Biogen by 9.7% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 63 shares in the last quarter. Finally, Impax Asset Management Group plc raised its stake in Biogen by 40.5% during the 3rd quarter. Impax Asset Management Group plc now owns 38,810 shares of the biotechnology company’s stock worth $7,523,000 after buying an additional 11,185 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of BIIB opened at $142.65 on Wednesday. The company has a market cap of $20.88 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.51 and a beta of -0.08. The firm has a 50-day moving average of $144.15 and a 200-day moving average of $167.42. Biogen Inc. has a one year low of $128.51 and a one 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.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BIIB shares. Wells Fargo & Company lowered their price target on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Scotiabank lowered their target price on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Piper Sandler reaffirmed a “neutral” rating and issued a $135.00 price target (down previously from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Robert W. Baird increased their price objective on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Finally, Morgan Stanley dropped their price objective on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $213.33.

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.