Biogen Inc. (NASDAQ:BIIB) Shares Bought by North Growth Management Ltd.

North Growth Management Ltd. raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 63.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,000 shares of the biotechnology company’s stock after acquiring an additional 7,000 shares during the period. North Growth Management Ltd.’s holdings in Biogen were worth $2,734,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of BIIB. Park Avenue Securities LLC increased its holdings in shares of Biogen by 4.0% during the 3rd quarter. Park Avenue Securities LLC now owns 2,630 shares of the biotechnology company’s stock valued at $510,000 after purchasing an additional 101 shares in the last quarter. UMB Bank n.a. raised its holdings in Biogen by 72.1% in the 3rd quarter. UMB Bank n.a. now owns 425 shares of the biotechnology company’s stock worth $82,000 after purchasing an additional 178 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Biogen by 521.7% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,430 shares of the biotechnology company’s stock worth $277,000 after purchasing an additional 1,200 shares in the last quarter. City State Bank grew its holdings in Biogen by 21.9% in the third quarter. City State Bank now owns 892 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 160 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in shares of Biogen by 4,516.7% in the third quarter. Exchange Traded Concepts LLC now owns 1,662 shares of the biotechnology company’s stock valued at $322,000 after buying an additional 1,626 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of research analyst reports. Wolfe Research started coverage on shares of Biogen in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. lowered their price objective on Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. BMO Capital Markets lowered shares of Biogen from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $230.00 to $164.00 in a research report on Friday, December 20th. Finally, Piper Sandler cut Biogen from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $315.00 to $138.00 in a report on Thursday, January 2nd. Sixteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $228.80.

Biogen Stock Performance

NASDAQ:BIIB opened at $141.35 on Friday. The firm has a market capitalization of $20.60 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. 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 business’s fifty day moving average price is $149.14 and its 200 day moving average price is $176.13. Biogen Inc. has a 12 month low of $139.71 and a 12 month high of $244.95.

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.