abrdn plc Has $82.03 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

abrdn plc cut its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 543,410 shares of the biotechnology company's stock after selling 25,100 shares during the quarter. abrdn plc owned 0.37% of Biogen worth $82,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Inspire Trust Co. N.A. increased its position in Biogen by 58.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company's stock valued at $2,113,000 after purchasing an additional 4,025 shares during the period. Assenagon Asset Management S.A. boosted 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 valued at $6,646,000 after buying an additional 111 shares in the last quarter. Centre Asset Management LLC boosted its holdings in shares of Biogen by 7.7% during the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company's stock valued at $7,880,000 after buying an additional 3,698 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company's stock valued at $176,982,000 after buying an additional 12,319 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Biogen by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company's stock valued at $32,687,000 after buying an additional 5,270 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Up 2.1 %

Shares of BIIB traded up $3.04 during mid-day trading on Wednesday, reaching $145.53. The company's stock had a trading volume of 1,173,200 shares, compared to its average volume of 1,265,540. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 1 year low of $139.71 and a 1 year high of $246.44. The business has a fifty day moving average of $150.16 and a 200 day moving average of $177.18. The company has a market cap of $21.21 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 1.66 and a beta of -0.08.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company dropped their price target 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. TD Cowen decreased their target price on Biogen from $300.00 to $275.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Stifel Nicolaus lowered shares of Biogen from a "buy" rating to a "hold" rating and set a $175.00 price target for the company. in a research report on Monday, December 16th. Bank of America reaffirmed a "neutral" rating and set a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. Finally, Mizuho reduced their target price on shares of Biogen from $251.00 to $207.00 and set an "outperform" rating for the company in a report on Thursday, November 21st. Sixteen investment 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 presently has a consensus rating of "Hold" and an average target price of $228.80.

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.