Biogen Inc. (NASDAQ:BIIB) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its position in Biogen Inc. (NASDAQ:BIIB) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,807 shares of the biotechnology company’s stock after purchasing an additional 1,623 shares during the period. CIBC Asset Management Inc’s holdings in Biogen were worth $7,158,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Biogen in the 3rd quarter worth approximately $33,000. Golden State Wealth Management LLC purchased a new stake in Biogen in the 4th quarter worth approximately $41,000. Venturi Wealth Management LLC boosted its holdings in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after buying an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 90 shares during the period. Finally, Quent Capital LLC grew its holdings in Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 72 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group decreased their target price on Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Wolfe Research started coverage on shares of Biogen in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Wells Fargo & Company reduced 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. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Finally, Mizuho decreased their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Biogen has an average rating of “Hold” and an average target price of $211.85.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $136.54 on Thursday. The stock’s 50-day simple moving average is $146.13 and its 200-day simple moving average is $171.71. 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 has a market capitalization of $19.99 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.47 and a beta of -0.08. 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 net margin of 16.87% and a return on equity of 14.98%. As a group, equities research analysts forecast that Biogen Inc. will post 15.89 EPS for the current fiscal year.

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.