Plato Investment Management Ltd Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

Plato Investment Management Ltd acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,037 shares of the biotechnology company’s stock, valued at approximately $159,000.

Several other hedge funds have also made changes to their positions in the stock. Inspire Trust Co. N.A. increased its stake in Biogen by 58.5% during the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after acquiring an additional 4,025 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after purchasing an additional 111 shares in the last quarter. Centre Asset Management LLC increased its position in shares of Biogen by 7.7% during the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after purchasing an additional 3,698 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Biogen by 3.2% in the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock worth $32,687,000 after purchasing an additional 5,270 shares during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Up 0.7 %

BIIB stock opened at $142.65 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The company has a market cap of $20.88 billion, a P/E ratio of 12.75, a PEG ratio of 1.51 and a beta of -0.08. The business has a fifty day moving average of $144.15 and a 200-day moving average of $167.42.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, equities research analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BIIB shares. Robert W. Baird boosted their price target on shares of Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Canaccord Genuity Group lowered their target price on shares of Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Citigroup cut their price target on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company lowered their price objective on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Finally, Bank of America restated a “neutral” rating and set a $178.00 target price on shares of Biogen in a research report on Tuesday, December 10th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $213.33.

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.