Morningstar Investment Services LLC Purchases 1,023 Shares of Biogen Inc. (NASDAQ:BIIB)

Morningstar Investment Services LLC boosted its position in Biogen Inc. (NASDAQ:BIIBFree Report) by 122.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,856 shares of the biotechnology company’s stock after buying an additional 1,023 shares during the quarter. Morningstar Investment Services LLC’s holdings in Biogen were worth $484,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Primecap Management Co. CA raised its holdings in Biogen by 1.6% in the fourth quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock worth $4,208,760,000 after purchasing an additional 251,915 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Biogen by 0.5% in the third quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock worth $1,381,251,000 after acquiring an additional 27,951 shares during the last quarter. Northern Trust Corp grew its stake in shares of Biogen by 2.8% in the third quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock worth $422,276,000 after acquiring an additional 45,437 shares during the last quarter. Morgan Stanley grew its stake in shares of Biogen by 4.3% in the third quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock worth $383,745,000 after acquiring an additional 61,814 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Biogen in the fourth quarter worth $378,728,000. Institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

BIIB has been the topic of a number of recent research reports. Wells Fargo & Company cut Biogen from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $315.00 to $240.00 in a research note on Wednesday, February 14th. HC Wainwright reissued a “buy” rating and issued a $300.00 target price on shares of Biogen in a research note on Thursday, May 23rd. HSBC increased their target price on Biogen from $339.00 to $342.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $311.00 target price on shares of Biogen in a research note on Tuesday, February 20th. Finally, UBS Group cut their target price on Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Biogen currently has an average rating of “Moderate Buy” and an average target price of $286.50.

Get Our Latest Stock Report on BIIB

Biogen Stock Down 2.8 %

NASDAQ BIIB opened at $225.43 on Friday. The stock’s 50-day moving average price is $214.54 and its 200-day moving average price is $229.36. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76. The company has a market capitalization of $32.82 billion, a P/E ratio of 28.14, a price-to-earnings-growth ratio of 2.34 and a beta of -0.02.

Biogen (NASDAQ:BIIBGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the company earned $3.40 earnings per share. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, equities research analysts predict that Biogen Inc. will post 15.61 earnings per share for the current year.

About Biogen

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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