National Pension Service Raises Holdings in Biogen Inc. $BIIB

National Pension Service raised its holdings in Biogen Inc. (NASDAQ:BIIB) by 4.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 285,202 shares of the biotechnology company’s stock after purchasing an additional 12,147 shares during the quarter. National Pension Service owned 0.19% of Biogen worth $39,951,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BIIB. Elevation Point Wealth Partners LLC purchased a new stake in Biogen in the 2nd quarter valued at about $25,000. Rothschild Investment LLC boosted its stake in Biogen by 64.7% during the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after buying an additional 88 shares during the period. Concord Wealth Partners increased its position in shares of Biogen by 100.0% during the second quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 114 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Biogen by 62.9% in the 3rd quarter. True Wealth Design LLC now owns 233 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 90 shares during the period. Finally, NewSquare Capital LLC lifted its holdings in shares of Biogen by 134.6% in the 2nd quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of research analyst reports. Tudor Pickering set a $157.00 target price on Biogen in a research report on Monday, November 3rd. Hsbc Global Res cut Biogen from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, December 10th. Robert W. Baird cut their price objective on Biogen from $255.00 to $250.00 in a report on Friday, October 31st. Sanford C. Bernstein raised their target price on Biogen from $157.00 to $197.00 and gave the company a “market perform” rating in a report on Friday, January 9th. Finally, BMO Capital Markets lifted their target price on Biogen from $150.00 to $165.00 and gave the company a “market perform” rating in a research report on Thursday, December 18th. Eleven research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Biogen presently has a consensus rating of “Hold” and a consensus price target of $192.81.

Biogen Stock Performance

Shares of BIIB opened at $179.09 on Tuesday. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $190.20. The stock has a market capitalization of $26.27 billion, a PE ratio of 16.33, a PEG ratio of 1.50 and a beta of 0.16. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.04 and a current ratio of 2.72. The stock has a 50-day simple moving average of $176.51 and a 200-day simple moving average of $155.35.

Biogen Profile

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.