North Growth Management Ltd. Boosts Stock Position in Biogen Inc. (NASDAQ:BIIB)

North Growth Management Ltd. boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 63.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,000 shares of the biotechnology company’s stock after purchasing an additional 7,000 shares during the quarter. North Growth Management Ltd.’s holdings in Biogen were worth $2,734,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Pacer Advisors Inc. raised its position in shares of Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after buying an additional 2,648,024 shares in the last quarter. International Assets Investment Management LLC increased its stake in Biogen by 19,722.9% during the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after acquiring an additional 357,181 shares during the last quarter. Mizuho Securities USA LLC increased its stake in Biogen by 2,715.9% during the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock worth $61,253,000 after acquiring an additional 304,778 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of Biogen in the 3rd quarter valued at approximately $55,826,000. Finally, State Street Corp boosted its holdings 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 worth $1,423,747,000 after purchasing an additional 248,942 shares during the period. Institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BIIB. Citigroup decreased their price target on Biogen from $190.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Truist Financial dropped their price target on shares of Biogen from $302.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. dropped their target price on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Wolfe Research started coverage on Biogen in a report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Robert W. Baird lifted their target price on Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Sixteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $228.80.

Biogen Price Performance

Shares of BIIB stock opened at $141.35 on Friday. Biogen Inc. has a fifty-two week low of $139.71 and a fifty-two week high of $244.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.65 and a beta of -0.08. The stock’s 50-day simple moving average is $149.14 and its 200-day simple moving average is $176.13.

About Biogen

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.