Causeway Capital Management LLC Takes Position in Biogen Inc. (NASDAQ:BIIB)

Causeway Capital Management LLC bought a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 281,702 shares of the biotechnology company's stock, valued at approximately $43,078,000. Causeway Capital Management LLC owned approximately 0.19% of Biogen at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. raised its holdings in Biogen by 13,574.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock worth $407,919,000 after acquiring an additional 2,648,024 shares during the last quarter. Norges Bank purchased a new position in shares of Biogen in the fourth quarter worth $355,569,000. Van ECK Associates Corp boosted its position in shares of Biogen by 977.9% during the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company's stock valued at $163,083,000 after buying an additional 967,523 shares during the last quarter. Invesco Ltd. increased its holdings in Biogen by 30.6% in the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock worth $325,537,000 after buying an additional 499,074 shares in the last quarter. Finally, FMR LLC lifted its stake in Biogen by 98.7% during the 4th quarter. FMR LLC now owns 757,570 shares of the biotechnology company's stock valued at $115,848,000 after acquiring an additional 376,356 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BIIB has been the subject of a number of research reports. StockNews.com lowered shares of Biogen from a "strong-buy" rating to a "buy" rating in a research note on Saturday, December 28th. Scotiabank lowered their target price on Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a report on Thursday, February 13th. Sanford C. Bernstein started coverage on shares of Biogen in a research note on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 price objective on the stock. William Blair restated an "outperform" rating on shares of Biogen in a research report on Monday, January 13th. Finally, Morgan Stanley decreased their price target on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Biogen currently has an average rating of "Hold" and an average target price of $213.15.

Biogen Trading Up 2.9 %

Shares of NASDAQ:BIIB traded up $3.32 during trading on Friday, reaching $118.61. The company's stock had a trading volume of 1,206,280 shares, compared to its average volume of 1,355,013. The firm's 50 day simple moving average is $134.29 and its two-hundred day simple moving average is $151.69. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $238.00. The stock has a market capitalization of $17.36 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping analysts' consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, research analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.