ING Groep NV Has $3.39 Million Holdings in Biogen Inc. (NASDAQ:BIIB)

ING Groep NV increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 12.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,171 shares of the biotechnology company’s stock after acquiring an additional 2,521 shares during the period. ING Groep NV’s holdings in Biogen were worth $3,390,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meitav Investment House Ltd. increased its position in Biogen by 510.2% in the 4th quarter. Meitav Investment House Ltd. now owns 102,838 shares of the biotechnology company’s stock valued at $15,726,000 after acquiring an additional 85,986 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Biogen by 19.6% during the fourth quarter. Handelsbanken Fonder AB now owns 81,935 shares of the biotechnology company’s stock worth $12,530,000 after purchasing an additional 13,433 shares in the last quarter. Ieq Capital LLC grew its stake 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 valued at $9,104,000 after purchasing an additional 55,514 shares during the last quarter. Alberta Investment Management Corp increased its holdings in shares of Biogen by 138.7% in the fourth quarter. Alberta Investment Management Corp now owns 33,180 shares of the biotechnology company’s stock valued at $5,074,000 after purchasing an additional 19,280 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Biogen by 17.2% in the 4th quarter. New York State Common Retirement Fund now owns 111,016 shares of the biotechnology company’s stock worth $16,977,000 after purchasing an additional 16,271 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of recent research reports. Scotiabank decreased their price objective on Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 13th. BMO Capital Markets decreased their price target on Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a report on Thursday, February 13th. Canaccord Genuity Group dropped their price objective on Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Stifel Nicolaus downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price on the stock. in a research report on Monday, December 16th. Finally, HC Wainwright lowered their price target on shares of Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research 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 company’s stock. Based on data from MarketBeat, Biogen currently has an average rating of “Hold” and a consensus target price of $213.33.

Biogen Stock Performance

NASDAQ BIIB opened at $140.64 on Friday. The stock has a market cap of $20.59 billion, a PE ratio of 12.57, a P/E/G ratio of 1.47 and a beta of -0.08. 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 50-day moving average of $145.16 and a 200-day moving average of $170.82. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS 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.