Biogen Inc. (NASDAQ:BIIB) Holdings Increased by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB grew its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 84.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 123,700 shares of the biotechnology company's stock after buying an additional 56,600 shares during the period. Biogen accounts for 1.9% of Rhenman & Partners Asset Management AB's investment portfolio, making the stock its 19th biggest position. Rhenman & Partners Asset Management AB owned approximately 0.08% of Biogen worth $18,916,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in BIIB. Vanguard Group Inc. raised its position in shares of Biogen by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company's stock worth $2,561,238,000 after buying an additional 70,368 shares during the period. State Street Corp lifted its stake 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 purchasing an additional 248,942 shares in the last quarter. Geode Capital Management LLC lifted its position in Biogen by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company's stock valued at $563,709,000 after buying an additional 82,456 shares in the last quarter. Pacer Advisors Inc. grew its stake in 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 buying an additional 2,648,024 shares during the period. Finally, Norges Bank acquired a new stake in shares of Biogen in the fourth quarter worth $355,569,000. 87.93% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of analysts recently weighed in on BIIB shares. Bank Of America (Bofa) decreased their price target on shares of Biogen from $178.00 to $163.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. William Blair reiterated an "outperform" rating on shares of Biogen in a research note on Monday, January 13th. Piper Sandler reissued a "neutral" rating and set a $135.00 price target (down from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Canaccord Genuity Group lowered their price objective on shares of Biogen from $298.00 to $265.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Argus cut shares of Biogen from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $213.15.

Biogen Stock Performance

Shares of NASDAQ BIIB traded down $8.74 during mid-day trading on Thursday, hitting $111.75. The company had a trading volume of 955,457 shares, compared to its average volume of 1,343,198. The stock has a market cap of $16.36 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 1.51 and a beta of 0.06. The firm's 50 day simple moving average is $137.86 and its two-hundred day simple moving average is $155.09. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $238.00.

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

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.16% of the company's stock.

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.