Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its holdings in Biogen Inc. (NASDAQ:BIIB) by 19.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,935 shares of the biotechnology company’s stock after buying an additional 13,433 shares during the quarter. Handelsbanken Fonder AB owned about 0.06% of Biogen worth $12,530,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp grew its holdings in Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after buying an additional 248,942 shares in the last quarter. Geode Capital Management LLC grew its holdings in Biogen by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after buying an additional 47,055 shares in the last quarter. Pacer Advisors Inc. grew 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 buying an additional 2,648,024 shares in the last quarter. RA Capital Management L.P. grew its holdings in 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 worth $229,595,000 after buying an additional 202,317 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 worth $223,438,000 after buying an additional 18,905 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Price Performance

BIIB opened at $140.64 on Friday. The stock has a fifty day moving average of $145.16 and a 200-day moving average of $170.82. The firm has a market capitalization of $20.59 billion, a P/E ratio of 12.57, a PEG ratio of 1.47 and a beta of -0.08. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) 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%. Equities analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BIIB shares. BMO Capital Markets decreased their price objective on Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a report on Thursday, February 13th. Morgan Stanley decreased their price target on Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. TD Cowen decreased their price target on Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Bank Of America (Bofa) decreased their price target on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Finally, Mizuho decreased their price target on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Seventeen 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 presently has a consensus rating of “Hold” and a consensus 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.