Van ECK Associates Corp Increases Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Van ECK Associates Corp lifted its stake in Biogen Inc. (NASDAQ:BIIB) by 977.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,066,460 shares of the biotechnology company’s stock after purchasing an additional 967,523 shares during the period. Van ECK Associates Corp’s holdings in Biogen were worth $163,083,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp lifted its position in shares of Biogen by 3.5% during the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after buying an additional 248,942 shares in the last quarter. Geode Capital Management LLC raised its stake in Biogen by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after acquiring an additional 47,055 shares during the period. Pacer Advisors Inc. lifted its holdings in Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after purchasing an additional 2,648,024 shares in the last quarter. RA Capital Management L.P. boosted its position in shares of Biogen by 20.6% in the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after purchasing an additional 202,317 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Biogen by 1.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock worth $223,438,000 after purchasing an additional 18,905 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

BIIB opened at $133.43 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $19.44 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.65 and a beta of -0.08. The business’s fifty day simple moving average is $148.28 and its 200-day simple moving average is $174.33. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00.

Biogen (NASDAQ:BIIB) last posted its earnings results 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 16.81%. On average, equities research analysts anticipate that Biogen Inc. will post 16.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Biogen from $190.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. BMO Capital Markets lowered Biogen from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $230.00 to $164.00 in a research note on Friday, December 20th. TD Cowen decreased 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. Bank of America restated a “neutral” rating and issued a $178.00 price target on shares of Biogen in a research note on Tuesday, December 10th. Finally, Robert W. Baird lifted their price objective on shares of Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Seventeen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $221.65.

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.