Alberta Investment Management Corp Increases Stock Position in Biogen Inc. (NASDAQ:BIIB)

Alberta Investment Management Corp boosted its stake in Biogen Inc. (NASDAQ:BIIB) by 138.7% during the 4th quarter, Holdings Channel reports. The firm owned 33,180 shares of the biotechnology company’s stock after buying an additional 19,280 shares during the quarter. Alberta Investment Management Corp’s holdings in Biogen were worth $5,074,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. New York State Common Retirement Fund lifted its holdings in shares of Biogen by 17.2% in the 4th quarter. New York State Common Retirement Fund now owns 111,016 shares of the biotechnology company’s stock valued at $16,977,000 after acquiring an additional 16,271 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Biogen by 93.9% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 8,365 shares of the biotechnology company’s stock valued at $1,279,000 after buying an additional 4,052 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Biogen during the fourth quarter valued at approximately $751,000. CIBC Asset Management Inc increased its holdings in Biogen by 3.6% during the fourth quarter. CIBC Asset Management Inc now owns 46,807 shares of the biotechnology company’s stock valued at $7,158,000 after buying an additional 1,623 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in Biogen during the fourth quarter valued at approximately $2,993,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

BIIB has been the topic of several research reports. Sanford C. Bernstein initiated coverage on shares of Biogen in a report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price objective on the stock. TD Cowen cut their price objective on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Scotiabank cut their price objective on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 13th. Oppenheimer cut their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Morgan Stanley cut their price target on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Biogen currently has an average rating of “Hold” and an average price target of $211.85.

Biogen Trading Down 0.0 %

NASDAQ BIIB opened at $136.54 on Thursday. The company has a market capitalization of $19.99 billion, a PE ratio of 12.20, a P/E/G ratio of 1.47 and a beta of -0.08. The company has a fifty day moving average of $146.13 and a 200 day moving average of $171.71. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. 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 (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Research analysts forecast that Biogen Inc. will post 15.89 earnings per share for the current year.

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.