Biogen Inc. (NASDAQ:BIIB) Position Boosted by Old North State Wealth Management LLC

Old North State Wealth Management LLC lifted its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,467 shares of the biotechnology company's stock after purchasing an additional 1,934 shares during the period. Biogen comprises about 1.3% of Old North State Wealth Management LLC's holdings, making the stock its 29th largest position. Old North State Wealth Management LLC's holdings in Biogen were worth $2,365,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. ARGA Investment Management LP boosted its stake in Biogen by 34.7% during the 4th quarter. ARGA Investment Management LP now owns 3,532 shares of the biotechnology company's stock worth $540,000 after purchasing an additional 910 shares during the period. E. Ohman J or Asset Management AB grew its holdings in shares of Biogen by 14.3% during the fourth quarter. E. Ohman J or Asset Management AB now owns 6,399 shares of the biotechnology company's stock worth $979,000 after buying an additional 800 shares during the last quarter. Mather Group LLC. grew its holdings in shares of Biogen by 476.0% during the fourth quarter. Mather Group LLC. now owns 1,728 shares of the biotechnology company's stock worth $264,000 after buying an additional 1,428 shares during the last quarter. Greenleaf Trust increased its position in Biogen by 94.4% in the 4th quarter. Greenleaf Trust now owns 5,065 shares of the biotechnology company's stock valued at $775,000 after acquiring an additional 2,459 shares during the period. Finally, Chicago Partners Investment Group LLC raised its stake in Biogen by 71.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,445 shares of the biotechnology company's stock valued at $369,000 after acquiring an additional 1,015 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. William Blair reissued an "outperform" rating on shares of Biogen in a research note on Monday, January 13th. StockNews.com downgraded shares of Biogen from a "strong-buy" rating to a "buy" rating in a research report on Saturday, December 28th. Barclays cut their target price on Biogen from $190.00 to $180.00 and set an "equal weight" rating for the company in a research note on Thursday, October 31st. Bank of America reaffirmed a "neutral" rating and set a $178.00 price objective on shares of Biogen in a report on Tuesday, December 10th. Finally, Raymond James reaffirmed a "market perform" rating on shares of Biogen in a report on Thursday, October 10th. Sixteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Biogen presently has an average rating of "Hold" and a consensus price target of $228.80.

Biogen Stock Up 2.1 %

NASDAQ:BIIB traded up $3.04 during mid-day trading on Wednesday, reaching $145.53. The stock had a trading volume of 1,173,200 shares, compared to its average volume of 1,265,540. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The company has a market capitalization 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. Biogen Inc. has a 1-year low of $139.71 and a 1-year high of $246.44. The stock's 50 day simple moving average is $150.16 and its two-hundred day simple moving average is $177.18.

Biogen Company 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.