Alliancebernstein L.P. Has $27.64 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Alliancebernstein L.P. boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 0.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 180,723 shares of the biotechnology company’s stock after purchasing an additional 1,592 shares during the period. Alliancebernstein L.P.’s holdings in Biogen were worth $27,636,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in shares of Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after acquiring an additional 2,648,024 shares during the last quarter. Norges Bank bought a new position in Biogen in the 4th quarter valued at $355,569,000. Van ECK Associates Corp boosted its stake in Biogen by 977.9% in the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock worth $163,083,000 after purchasing an additional 967,523 shares in the last quarter. Amundi grew its holdings in shares of Biogen by 35.6% during the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after purchasing an additional 319,478 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of Biogen by 491.9% in the fourth quarter. Retirement Systems of Alabama now owns 185,383 shares of the biotechnology company’s stock valued at $28,349,000 after buying an additional 154,062 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Trading Down 5.9 %

NASDAQ:BIIB opened at $122.98 on Monday. The business’s 50-day simple moving average is $140.68 and its 200-day simple moving average is $157.34. Biogen Inc. has a fifty-two week low of $118.04 and a fifty-two week high of $238.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The stock has a market capitalization of $18.00 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share 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%. Sell-side analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on BIIB. Bank of America reissued a “neutral” rating and set a $178.00 price objective on shares of Biogen in a report on Tuesday, December 10th. StockNews.com cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Morgan Stanley dropped their price objective on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. HC Wainwright reduced their price objective on Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Canaccord Genuity Group dropped their target price on Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $213.33.

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.