Biogen Inc. (NASDAQ:BIIB) Shares Acquired by ARGA Investment Management LP

ARGA Investment Management LP boosted its position in Biogen Inc. (NASDAQ:BIIB) by 34.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,532 shares of the biotechnology company’s stock after purchasing an additional 910 shares during the period. ARGA Investment Management LP’s holdings in Biogen were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake 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 worth $407,919,000 after buying an additional 2,648,024 shares in the last quarter. International Assets Investment Management LLC grew its holdings 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 period. Mizuho Securities USA LLC raised its position in Biogen by 2,715.9% in 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 in the last quarter. Erste Asset Management GmbH acquired a new stake in Biogen in the third quarter valued at $55,826,000. Finally, State Street Corp boosted its position in shares of Biogen by 3.5% during 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 in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of research analyst reports. Stifel Nicolaus downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a report on Monday, December 16th. TD Cowen dropped their target price on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 31st. BMO Capital Markets lowered Biogen from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $230.00 to $164.00 in a research note on Friday, December 20th. Robert W. Baird raised their price objective on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Finally, Mizuho reduced their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Sixteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $228.80.

Biogen Price Performance

BIIB opened at $142.49 on Wednesday. Biogen Inc. has a 1 year low of $139.71 and a 1 year high of $246.44. The company’s 50 day simple moving average is $150.47 and its 200 day simple moving average is $177.77. The stock has a market capitalization of $20.76 billion, a PE ratio of 12.87, a P/E/G ratio of 1.66 and a beta of -0.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

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.