Handelsbanken Fonder AB Has $12.53 Million Stake in Biogen Inc. (NASDAQ:BIIB)

Handelsbanken Fonder AB boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 19.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 81,935 shares of the biotechnology company’s stock after buying an additional 13,433 shares during the period. Handelsbanken Fonder AB’s holdings in Biogen were worth $12,530,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Biogen during the third quarter worth $33,000. Golden State Wealth Management LLC acquired a new position in Biogen during the fourth quarter worth $41,000. Venturi Wealth Management LLC increased its position in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after buying an additional 93 shares during the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 90 shares during the last quarter. Finally, Quent Capital LLC grew its position in shares of Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 72 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

NASDAQ:BIIB opened at $140.64 on Friday. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The firm has a 50 day moving average of $145.16 and a 200-day moving average of $170.82. 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 stock has a market capitalization of $20.59 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.47 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus downgraded Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research report on Monday, December 16th. Royal Bank of Canada lowered their price target on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. TD Cowen lowered their price target on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Finally, Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and decreased their target price for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $213.33.

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.