Biogen Inc. $BIIB Shares Purchased by National Pension Service

National Pension Service boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 4.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 285,202 shares of the biotechnology company’s stock after purchasing an additional 12,147 shares during the quarter. National Pension Service’s holdings in Biogen were worth $39,951,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Biogen by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock valued at $2,171,533,000 after acquiring an additional 257,812 shares during the last quarter. State Street Corp boosted its holdings in Biogen by 1.0% in the second quarter. State Street Corp now owns 7,468,807 shares of the biotechnology company’s stock valued at $938,007,000 after purchasing an additional 71,897 shares in the last quarter. Geode Capital Management LLC increased its stake in Biogen by 1.9% in the second quarter. Geode Capital Management LLC now owns 3,918,150 shares of the biotechnology company’s stock valued at $490,089,000 after purchasing an additional 71,286 shares during the last quarter. Invesco Ltd. lifted its position in shares of Biogen by 2.4% during the 2nd quarter. Invesco Ltd. now owns 2,320,126 shares of the biotechnology company’s stock worth $291,385,000 after buying an additional 55,119 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Biogen in the 2nd quarter valued at $284,358,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Piper Sandler reiterated a “neutral” rating and set a $157.00 price target (up from $118.00) on shares of Biogen in a research note on Friday, November 21st. Mizuho raised their price objective on Biogen from $177.00 to $207.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. HSBC reissued a “reduce” rating and issued a $143.00 target price (down from $144.00) on shares of Biogen in a report on Wednesday, December 10th. Stifel Nicolaus upgraded Biogen from a “hold” rating to a “buy” rating and raised their price target for the stock from $144.00 to $202.00 in a research note on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Biogen in a research report on Monday, December 29th. Eleven investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $192.81.

Biogen Trading Down 0.4%

Shares of Biogen stock opened at $179.09 on Tuesday. The firm has a market cap of $26.27 billion, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 1.50 and a beta of 0.16. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $190.20. The company’s 50-day simple moving average is $176.51 and its 200-day simple moving average is $155.35. The company has a quick ratio of 2.04, a current ratio of 2.72 and a debt-to-equity ratio of 0.35.

Biogen Profile

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.