Edgestream Partners L.P. Boosts Stock Position in Biogen Inc. (NASDAQ:BIIB)

Edgestream Partners L.P. boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 79.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,135 shares of the biotechnology company’s stock after buying an additional 8,917 shares during the period. Edgestream Partners L.P.’s holdings in Biogen were worth $3,079,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in BIIB. Inspire Trust Co. N.A. increased its holdings in shares of Biogen by 58.5% during the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after acquiring an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after purchasing an additional 111 shares in the last quarter. Centre Asset Management LLC raised its holdings in Biogen by 7.7% in the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after buying an additional 3,698 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after buying an additional 12,319 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Biogen by 3.2% during the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after buying an additional 5,270 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Stock Up 2.0 %

BIIB opened at $150.38 on Friday. The stock has a market cap of $22.01 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. 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 firm’s fifty day moving average is $143.98 and its 200 day moving average is $166.46. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share 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%. On average, sell-side analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BIIB. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a report on Thursday, February 13th. StockNews.com downgraded Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Wolfe Research assumed coverage on shares of Biogen in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Stifel Nicolaus lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a research note on Monday, December 16th. Seventeen investment 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 stock currently has a consensus rating of “Hold” and an average target price of $213.33.

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.