Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in Biogen Inc. (NASDAQ:BIIB) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,460 shares of the biotechnology company’s stock after acquiring an additional 111 shares during the period. Assenagon Asset Management S.A.’s holdings in Biogen were worth $6,646,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BIIB. Blair William & Co. IL boosted its stake in shares of Biogen by 1.8% in the 2nd quarter. Blair William & Co. IL now owns 13,094 shares of the biotechnology company’s stock valued at $3,035,000 after buying an additional 227 shares during the period. Canada Pension Plan Investment Board lifted its stake in Biogen by 59.1% in the second quarter. Canada Pension Plan Investment Board now owns 173,664 shares of the biotechnology company’s stock worth $40,259,000 after acquiring an additional 64,505 shares during the last quarter. AE Wealth Management LLC acquired a new position in Biogen during the 2nd quarter worth approximately $259,000. Pacer Advisors Inc. increased its position in shares of Biogen by 12.7% in the 2nd quarter. Pacer Advisors Inc. now owns 19,066 shares of the biotechnology company’s stock valued at $4,420,000 after purchasing an additional 2,149 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Biogen by 16.5% in the 2nd quarter. Sei Investments Co. now owns 105,351 shares of the biotechnology company’s stock valued at $24,422,000 after purchasing an additional 14,900 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $140.55 on Monday. Biogen Inc. has a 52 week low of $140.05 and a 52 week high of $252.17. The company has a 50-day moving average price of $154.27 and a 200 day moving average price of $184.26. The company has a market cap of $20.48 billion, a P/E ratio of 12.70, a PEG ratio of 1.69 and a beta of -0.07. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the firm earned $4.36 EPS. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. Research analysts predict that Biogen Inc. will post 16.43 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Jefferies Financial Group lowered Biogen from a “buy” rating to a “hold” rating and dropped their target price for the company from $250.00 to $180.00 in a report on Monday, December 9th. Citigroup began coverage on Biogen in a report on Thursday, November 14th. They issued a “neutral” rating and a $190.00 price objective on the stock. Raymond James restated a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Oppenheimer lowered their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, 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. 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, the stock currently has an average rating of “Hold” and an average price target of $230.00.

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.