Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. boosted its position in Biogen Inc. (NASDAQ:BIIB) by 48.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 408,276 shares of the biotechnology company’s stock after buying an additional 133,568 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.28% of Biogen worth $62,434,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Public Sector Pension Investment Board increased its position in Biogen by 77.1% in the second quarter. Public Sector Pension Investment Board now owns 5,661 shares of the biotechnology company’s stock worth $1,312,000 after buying an additional 2,465 shares during the period. AQR Capital Management LLC increased its stake in Biogen by 270.3% during the 2nd quarter. AQR Capital Management LLC now owns 23,557 shares of the biotechnology company’s stock valued at $5,461,000 after buying an additional 17,195 shares during the period. Creative Planning raised its position in shares of Biogen by 32.4% during the 2nd quarter. Creative Planning now owns 18,274 shares of the biotechnology company’s stock worth $4,236,000 after buying an additional 4,473 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Biogen by 8.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,309 shares of the biotechnology company’s stock worth $1,694,000 after acquiring an additional 543 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in shares of Biogen in the second quarter valued at approximately $1,387,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Piper Sandler cut Biogen from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $315.00 to $138.00 in a research report on Thursday, January 2nd. Needham & Company LLC lowered Biogen from a “buy” rating to a “hold” rating and set a $270.00 target price on the stock. in a report on Monday, November 18th. Oppenheimer cut their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. Finally, Raymond James reissued a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Sixteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Biogen currently has a consensus rating of “Hold” and an average price target of $228.80.

Biogen Price Performance

NASDAQ BIIB opened at $144.41 on Thursday. The stock has a 50-day simple moving average of $151.55 and a 200 day simple moving average of $180.05. Biogen Inc. has a twelve month low of $139.71 and a twelve month high of $251.99. The stock has a market capitalization of $21.04 billion, a PE ratio of 13.05, a P/E/G ratio of 1.64 and a beta of -0.07. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm posted $4.36 earnings per share. Biogen’s revenue was down 2.5% compared to the same quarter last year. Research analysts anticipate that Biogen Inc. will post 16.41 EPS for the current year.

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.