Ieq Capital LLC Buys 55,514 Shares of Biogen Inc. (NASDAQ:BIIB)

Ieq Capital LLC increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 1,380.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,534 shares of the biotechnology company’s stock after buying an additional 55,514 shares during the quarter. Ieq Capital LLC’s holdings in Biogen were worth $9,104,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp grew its stake in Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after purchasing an additional 248,942 shares during the period. Geode Capital Management LLC grew its stake 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 valued at $698,062,000 after purchasing an additional 47,055 shares during the period. Pacer Advisors Inc. grew 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 acquiring an additional 2,648,024 shares during the period. RA Capital Management L.P. grew its stake in shares of Biogen by 20.6% during 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 acquiring an additional 202,317 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Biogen by 1.7% during 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 acquiring an additional 18,905 shares during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of Biogen stock opened at $137.08 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $20.07 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.47 and a beta of -0.08. The business’s 50-day moving average price is $145.71 and its 200-day moving average price is $171.46. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating 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%. Sell-side analysts forecast that Biogen Inc. will post 15.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several research reports. Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and cut their price target for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research note on Thursday, February 13th. Scotiabank cut their price target on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Citigroup cut their price target on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, TD Cowen cut 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. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Biogen currently has an average rating of “Hold” and an average target price of $211.85.

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.