Fisher Asset Management LLC Has $27.67 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Fisher Asset Management LLC raised its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 171.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 180,924 shares of the biotechnology company's stock after purchasing an additional 114,156 shares during the quarter. Fisher Asset Management LLC owned 0.12% of Biogen worth $27,667,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pacer Advisors Inc. grew its position in Biogen by 13,574.7% during 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. Van ECK Associates Corp raised its holdings 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 purchasing an additional 967,523 shares during the period. Mizuho Securities USA LLC boosted its position in shares of Biogen by 2,715.9% during the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company's stock worth $61,253,000 after purchasing an additional 304,778 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of Biogen in the 3rd quarter valued at $55,826,000. Finally, State Street Corp increased its position in shares of Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company's stock valued at $1,423,747,000 after buying an additional 248,942 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Stock Performance

BIIB traded up $1.21 during trading hours on Monday, reaching $141.71. The company's stock had a trading volume of 1,616,469 shares, compared to its average volume of 1,471,824. Biogen Inc. has a 52 week low of $128.51 and a 52 week high of $238.00. The firm has a market cap of $20.74 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.51 and a beta of -0.08. The company's 50-day moving average is $144.43 and its 200-day moving average is $168.26. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share 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 forecast that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Upgrades and Downgrades

BIIB has been the subject of a number of research analyst reports. Sanford C. Bernstein began coverage on Biogen in a research note on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 target price for the company. William Blair reiterated an "outperform" rating on shares of Biogen in a research report on Monday, January 13th. Jefferies Financial Group downgraded shares of 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 report on Monday, December 9th. Piper Sandler reaffirmed 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, February 18th. Finally, Bank of America reissued a "neutral" rating and set a $178.00 price objective on shares of Biogen in a research report on Tuesday, December 10th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Biogen presently has an average rating of "Hold" and an average target price of $213.33.

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.