Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 48.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,963 shares of the biotechnology company’s stock after buying an additional 38,283 shares during the quarter. Nordea Investment Management AB owned about 0.08% of Biogen worth $17,901,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new stake in Biogen during the 2nd quarter valued at about $33,000. Ashton Thomas Securities LLC purchased a new stake in Biogen in the third quarter valued at approximately $33,000. Venturi Wealth Management LLC increased its holdings in Biogen by 73.8% in the 3rd 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 period. Versant Capital Management Inc raised its position in Biogen by 228.7% during the 4th quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock worth $61,000 after buying an additional 279 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in Biogen during the 3rd quarter valued at approximately $74,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Down 1.6 %

Shares of NASDAQ BIIB opened at $150.75 on Thursday. The company has a market capitalization of $21.97 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.74 and a beta of -0.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The company has a 50 day simple moving average of $158.35 and a 200-day simple moving average of $188.60. Biogen Inc. has a 1 year low of $145.07 and a 1 year high of $257.28.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the firm earned $4.36 earnings per share. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities research analysts predict that Biogen Inc. will post 16.43 earnings per share for the current year.

Analyst Ratings Changes

BIIB has been the subject of several recent research reports. Wolfe Research assumed coverage on shares of Biogen in a report on Friday, November 15th. They set a “peer perform” rating for the company. UBS Group reduced their price objective on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. StockNews.com downgraded Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Needham & Company LLC cut Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target for the company. in a research report on Monday, November 18th. Finally, Raymond James restated a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $232.40.

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.