Biogen Inc. (NASDAQ:BIIB) Stock Position Raised by Meitav Investment House Ltd.

Meitav Investment House Ltd. boosted its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 510.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,838 shares of the biotechnology company's stock after buying an additional 85,986 shares during the period. Meitav Investment House Ltd. owned 0.07% of Biogen worth $15,726,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BIIB. Pacer Advisors Inc. increased its position in Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock worth $407,919,000 after buying an additional 2,648,024 shares during the period. Van ECK Associates Corp increased its position in Biogen by 977.9% in the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company's stock worth $163,083,000 after buying an additional 967,523 shares during the period. International Assets Investment Management LLC increased its position in Biogen by 19,722.9% in the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company's stock worth $695,870,000 after buying an additional 357,181 shares during the period. Mizuho Securities USA LLC increased its position in Biogen by 2,715.9% in the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company's stock worth $61,253,000 after buying an additional 304,778 shares during the period. Finally, Erste Asset Management GmbH acquired a new stake in Biogen in the third quarter worth $55,826,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BIIB has been the topic of several analyst reports. Jefferies Financial Group lowered Biogen from a "buy" rating to a "hold" rating and dropped their target price for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Piper Sandler reissued a "neutral" rating and issued a $135.00 price target (down previously from $138.00) on shares of Biogen in a research note on Tuesday. Truist Financial decreased their price target on Biogen from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company decreased their price target on Biogen from $165.00 to $140.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their price target on Biogen from $220.00 to $210.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $211.85.

Biogen Trading Up 2.6 %

Shares of NASDAQ BIIB traded up $3.56 during mid-day trading on Friday, hitting $140.64. 1,807,566 shares of the company traded hands, compared to its average volume of 1,448,624. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.47 and a beta of -0.08. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average of $145.34 and a two-hundred day moving average of $171.22.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) 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%. On average, sell-side analysts anticipate that Biogen Inc. will post 15.84 earnings per share for the current fiscal year.

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.