Avanza Fonder AB Buys Shares of 15,536 Biogen Inc. (NASDAQ:BIIB)

Avanza Fonder AB purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,536 shares of the biotechnology company’s stock, valued at approximately $2,376,000.

Several other large investors have also bought and sold shares of BIIB. RDA Financial Network bought a new stake in shares of Biogen during the 4th quarter valued at $491,000. Assenagon Asset Management S.A. increased its holdings in Biogen by 0.3% in the fourth 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 during the last quarter. Pallas Capital Advisors LLC lifted its stake in Biogen by 121.1% in the fourth quarter. Pallas Capital Advisors LLC now owns 5,651 shares of the biotechnology company’s stock valued at $864,000 after buying an additional 3,095 shares during the period. Wedmont Private Capital boosted its holdings in Biogen by 187.2% during the fourth quarter. Wedmont Private Capital now owns 3,670 shares of the biotechnology company’s stock worth $546,000 after buying an additional 2,392 shares during the last quarter. Finally, Czech National Bank grew its position in shares of Biogen by 6.5% during the 4th quarter. Czech National Bank now owns 31,595 shares of the biotechnology company’s stock worth $4,832,000 after buying an additional 1,923 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Citigroup initiated coverage on shares of Biogen in a research note on Thursday, November 14th. They set a “neutral” rating and a $190.00 price objective on the stock. Bank of America reaffirmed a “neutral” rating and set a $178.00 price objective on shares of Biogen in a research note on Tuesday, December 10th. Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a research note on Monday, December 16th. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Finally, TD Cowen decreased their price objective on Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $230.00.

Biogen Stock Down 0.5 %

Shares of BIIB stock opened at $140.55 on Friday. Biogen Inc. has a 52-week low of $140.05 and a 52-week high of $252.17. The stock has a market cap of $20.48 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.69 and a beta of -0.07. The firm’s 50-day moving average is $154.27 and its 200-day moving average is $184.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the company earned $4.36 earnings per share. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. Sell-side analysts predict that Biogen Inc. will post 16.43 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.