Van ECK Associates Corp Has $163.08 Million Stake in Biogen Inc. (NASDAQ:BIIB)

Van ECK Associates Corp increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 977.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,066,460 shares of the biotechnology company’s stock after buying an additional 967,523 shares during the period. Van ECK Associates Corp owned 0.73% of Biogen worth $163,083,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp boosted its stake in shares of Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after buying an additional 248,942 shares during the period. Geode Capital Management LLC grew its stake in shares of Biogen by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after buying an additional 47,055 shares during the last quarter. Pacer Advisors Inc. grew its position in Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after acquiring an additional 2,648,024 shares during the last quarter. RA Capital Management L.P. increased its stake in shares of Biogen by 20.6% in the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock valued at $229,595,000 after buying an additional 202,317 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Biogen by 1.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock valued at $223,438,000 after acquiring an additional 18,905 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BIIB shares. Needham & Company LLC cut shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 price objective for the company. in a research report on Monday, November 18th. Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and reduced their price target for the company from $250.00 to $180.00 in a research report on Monday, December 9th. Sanford C. Bernstein began coverage on Biogen in a research note on Tuesday. They issued a “market perform” rating and a $160.00 price objective for the company. Oppenheimer cut their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Robert W. Baird raised their target price on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Seventeen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $221.65.

Biogen Price Performance

BIIB opened at $133.43 on Thursday. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The stock has a 50-day moving average price of $148.28 and a 200-day moving average price of $174.33. The firm has a market cap of $19.44 billion, a PE ratio of 12.05, a P/E/G 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.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Sell-side analysts predict that Biogen Inc. will post 16.42 earnings per share for the current fiscal year.

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.