ING Groep NV Has $3.39 Million Stake in Biogen Inc. (NASDAQ:BIIB)

ING Groep NV grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 12.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,171 shares of the biotechnology company’s stock after purchasing an additional 2,521 shares during the period. ING Groep NV’s holdings in Biogen were worth $3,390,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of Biogen by 165.2% in the 3rd quarter. Blue Trust Inc. now owns 472 shares of the biotechnology company’s stock valued at $91,000 after purchasing an additional 294 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of Biogen by 10.6% in the 3rd quarter. Private Advisor Group LLC now owns 9,645 shares of the biotechnology company’s stock valued at $1,870,000 after acquiring an additional 924 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Biogen by 1.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 43,349 shares of the biotechnology company’s stock worth $8,403,000 after purchasing an additional 612 shares in the last quarter. Legacy Capital Group California Inc. increased its stake in shares of Biogen by 9.9% in the third quarter. Legacy Capital Group California Inc. now owns 1,798 shares of the biotechnology company’s stock valued at $349,000 after buying an additional 162 shares during the period. Finally, Legacy Wealth Asset Management LLC boosted its position in Biogen by 4.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 2,176 shares of the biotechnology company’s stock worth $422,000 after buying an additional 86 shares during the period. 87.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BIIB. Mizuho reduced their price target on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research note on Thursday, February 13th. TD Cowen decreased their price target on Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company lowered their price objective on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Finally, Morgan Stanley cut their target price on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $213.33.

Biogen Stock Up 2.6 %

Biogen stock opened at $140.64 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock has a market cap of $20.59 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.47 and a beta of -0.08. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. The firm’s 50-day simple moving average is $145.16 and its 200 day simple moving average is $170.82.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (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 16.87%. Research analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal 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.