Fisher Asset Management LLC Grows Stake in Biogen Inc. (NASDAQ:BIIB)

Fisher Asset Management LLC grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 171.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 180,924 shares of the biotechnology company’s stock after buying an additional 114,156 shares during the period. Fisher Asset Management LLC owned 0.12% of Biogen worth $27,667,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new position in Biogen during the 3rd quarter valued at $33,000. Golden State Wealth Management LLC bought a new stake in shares of Biogen during the 4th quarter valued at about $41,000. Venturi Wealth Management LLC increased its position in shares of Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 93 shares during the period. Itau Unibanco Holding S.A. raised its stake in Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after buying an additional 90 shares in the last quarter. Finally, Quent Capital LLC lifted its holdings in Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after buying an additional 72 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BIIB. Bank of America reiterated a “neutral” rating and set a $178.00 target price on shares of Biogen in a report on Tuesday, December 10th. Bank Of America (Bofa) decreased their price objective on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Piper Sandler restated a “neutral” rating and set a $135.00 target price (down previously from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and decreased their price target for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. Finally, Wells Fargo & Company lowered their price target on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company 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, Biogen presently has an average rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Up 0.4 %

BIIB opened at $140.50 on Monday. The stock has a market capitalization of $20.57 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.51 and a beta of -0.08. The firm has a 50 day moving average price of $144.43 and a 200-day moving average price of $168.26. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last released 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 return on equity of 14.98% and a net margin of 16.87%. Equities research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Biogen 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.