Avanza Fonder AB Makes New Investment in Biogen Inc. (NASDAQ:BIIB)

Avanza Fonder AB purchased a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) in the fourth quarter, according to its most recent 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 hedge funds have also recently made changes to their positions in BIIB. Inspire Trust Co. N.A. grew its stake in shares of 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. Centre Asset Management LLC grew its position in 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 buying an additional 3,698 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Biogen by 1.4% during 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 buying an additional 12,319 shares during the last quarter. Principal Financial Group Inc. raised 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 acquiring an additional 5,270 shares during the period. Finally, Arlington Partners LLC boosted its stake in shares of Biogen by 34.3% during the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company's stock worth $3,724,000 after acquiring an additional 4,902 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on BIIB shares. Robert W. Baird raised their target price on Biogen from $294.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, November 15th. William Blair reaffirmed an "outperform" rating on shares of Biogen in a research report on Monday, January 13th. Stifel Nicolaus cut shares of Biogen from a "buy" rating to a "hold" rating and set a $175.00 target price on the stock. in a research note on Monday, December 16th. Mizuho lowered their price target on shares of Biogen from $251.00 to $207.00 and set an "outperform" rating on the stock in a report on Thursday, November 21st. Finally, TD Cowen reduced their price objective on shares of Biogen from $300.00 to $275.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Sixteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Biogen has a consensus rating of "Hold" and a consensus target price of $230.00.

Biogen Stock Down 0.5 %

NASDAQ:BIIB traded down $0.68 during midday trading on Friday, reaching $140.55. 1,149,845 shares of the stock traded hands, compared to its average volume of 1,295,436. The stock has a market capitalization of $20.48 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 1.69 and a beta of -0.07. Biogen Inc. has a 12-month low of $140.05 and a 12-month high of $252.17. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The business has a 50-day moving average of $154.27 and a two-hundred day moving average of $184.26.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 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 during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the business posted $4.36 EPS. The business's revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities analysts forecast that Biogen Inc. will post 16.43 earnings per share 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.