Allianz Asset Management GmbH Acquires 10,441 Shares of Biogen Inc. (NASDAQ:BIIB)

Allianz Asset Management GmbH raised its holdings in Biogen Inc. (NASDAQ:BIIBFree Report) by 2.0% in the fourth quarter, Holdings Channel reports. The fund owned 535,954 shares of the biotechnology company’s stock after acquiring an additional 10,441 shares during the period. Allianz Asset Management GmbH’s holdings in Biogen were worth $81,958,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. ING Groep NV grew its position in shares of Biogen by 12.8% in the 4th quarter. ING Groep NV now owns 22,171 shares of the biotechnology company’s stock valued at $3,390,000 after purchasing an additional 2,521 shares during the period. Meitav Investment House Ltd. lifted its stake in Biogen by 510.2% in the fourth quarter. Meitav Investment House Ltd. now owns 102,838 shares of the biotechnology company’s stock valued at $15,726,000 after buying an additional 85,986 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Biogen by 19.6% in the fourth quarter. Handelsbanken Fonder AB now owns 81,935 shares of the biotechnology company’s stock valued at $12,530,000 after buying an additional 13,433 shares during the period. Ieq Capital LLC increased its position in shares of Biogen by 1,380.9% during the fourth quarter. Ieq Capital LLC now owns 59,534 shares of the biotechnology company’s stock worth $9,104,000 after acquiring an additional 55,514 shares in the last quarter. Finally, Alberta Investment Management Corp raised its holdings in shares of Biogen by 138.7% during the fourth quarter. Alberta Investment Management Corp now owns 33,180 shares of the biotechnology company’s stock worth $5,074,000 after acquiring an additional 19,280 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Bank of America reaffirmed a “neutral” rating and issued a $178.00 target price on shares of Biogen in a research note on Tuesday, December 10th. Barclays reduced their price objective on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. TD Cowen cut their target price on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Scotiabank decreased their price target on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $211.85.

View Our Latest Stock Analysis on Biogen

Biogen Trading Up 2.6 %

Shares of Biogen stock opened at $140.64 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The business has a fifty day simple moving average of $145.34 and a two-hundred day simple moving average of $171.22. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The company has a market capitalization of $20.59 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 1.47 and a beta of -0.08.

Biogen (NASDAQ:BIIBGet Free Report) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Research analysts forecast that Biogen Inc. will post 15.84 EPS for the current year.

Biogen Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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