Alberta Investment Management Corp Raises Stock Position in Biogen Inc. (NASDAQ:BIIB)

Alberta Investment Management Corp lifted its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 138.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,180 shares of the biotechnology company's stock after buying an additional 19,280 shares during the quarter. Alberta Investment Management Corp's holdings in Biogen were worth $5,074,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in Biogen in the 3rd quarter valued at $33,000. Venturi Wealth Management LLC increased its holdings in Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company's stock valued at $42,000 after acquiring an additional 93 shares during the last quarter. Itau Unibanco Holding S.A. increased its holdings in shares of Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company's stock worth $45,000 after buying an additional 90 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Biogen in the 4th quarter worth about $41,000. Finally, Quent Capital LLC increased its holdings in shares of Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock worth $46,000 after buying an additional 72 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on BIIB. Canaccord Genuity Group reduced their target price on shares of Biogen from $298.00 to $265.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Piper Sandler restated a "neutral" rating and issued a $135.00 target price (down from $138.00) on shares of Biogen in a report on Tuesday. Sanford C. Bernstein assumed coverage on shares of Biogen in a report on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 target price on the stock. William Blair reiterated an "outperform" rating on shares of Biogen in a report on Monday, January 13th. Finally, Truist Financial cut their price target on shares of Biogen from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $211.85.

Biogen Stock Performance

Shares of NASDAQ:BIIB traded up $3.25 during midday trading on Friday, reaching $140.33. The company's stock had a trading volume of 1,146,896 shares, compared to its average volume of 1,428,282. The firm has a market capitalization of $20.54 billion, a PE ratio of 12.53, a P/E/G ratio of 1.47 and a beta of -0.08. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The stock has a fifty day moving average of $145.34 and a 200 day moving average of $171.22. 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 (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating 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, equities analysts expect that Biogen Inc. will post 15.84 EPS for the current fiscal year.

About Biogen

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.