Biogen Inc. (NASDAQ:BIIB) Stake Boosted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 11.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,553 shares of the biotechnology company’s stock after purchasing an additional 4,848 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Biogen were worth $7,191,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new position in shares of Biogen in the 3rd quarter worth approximately $33,000. Venturi Wealth Management LLC grew its holdings in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. increased its position in Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 90 shares during the last quarter. Versant Capital Management Inc raised its position in Biogen by 228.7% during the fourth quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 279 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in shares of Biogen in the 3rd quarter valued at $74,000. 87.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BIIB has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on Biogen from $190.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. BMO Capital Markets cut Biogen from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $230.00 to $164.00 in a report on Friday, December 20th. Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and cut their target price for the company from $250.00 to $180.00 in a research note on Monday, December 9th. StockNews.com cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Finally, 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. Sixteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $228.80.

Biogen Stock Performance

Shares of BIIB opened at $141.35 on Friday. Biogen Inc. has a 12 month low of $139.71 and a 12 month high of $244.95. The business’s fifty day simple moving average is $149.53 and its two-hundred day simple moving average is $176.72. The company has a market cap of $20.60 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 1.66 and a beta of -0.08. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

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.