Ieq Capital LLC Purchases 55,514 Shares of Biogen Inc. (NASDAQ:BIIB)

Ieq Capital LLC raised its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 1,380.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,534 shares of the biotechnology company's stock after buying an additional 55,514 shares during the quarter. Ieq Capital LLC's holdings in Biogen were worth $9,104,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp raised 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 acquiring an additional 248,942 shares during the period. Geode Capital Management LLC raised its holdings in Biogen by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company's stock worth $698,062,000 after purchasing an additional 47,055 shares during the period. Pacer Advisors Inc. boosted its position in shares of Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock worth $407,919,000 after purchasing an additional 2,648,024 shares in the last quarter. RA Capital Management L.P. grew its holdings in shares of Biogen by 20.6% in the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company's stock valued at $229,595,000 after buying an additional 202,317 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Biogen by 1.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company's stock valued at $223,438,000 after buying an additional 18,905 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of BIIB traded up $3.56 during midday trading on Friday, reaching $140.64. The stock had a trading volume of 1,807,566 shares, compared to its average volume of 1,448,624. The firm has a market cap of $20.59 billion, a PE ratio of 12.57, a P/E/G ratio of 1.47 and a beta of -0.08. The firm has a 50 day simple moving average of $145.34 and a 200-day simple moving average of $171.22. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. 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 (NASDAQ:BIIB - Get Free Report) last posted its quarterly 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%. As a group, sell-side analysts anticipate that Biogen Inc. will post 15.84 EPS for the current year.

Analysts Set New Price Targets

BIIB has been the topic of several recent analyst reports. William Blair reiterated an "outperform" rating on shares of Biogen in a report on Monday, January 13th. Scotiabank cut their price objective on Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a report on Thursday, February 13th. Barclays lowered 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 issued a $178.00 price target on shares of Biogen in a research note on Tuesday, December 10th. Finally, Wolfe Research assumed coverage on shares of Biogen in a research report on Friday, November 15th. They set a "peer perform" rating for the company. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $211.85.

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.