Allianz Asset Management GmbH Has $81.96 Million Position in Biogen Inc. (NASDAQ:BIIB)

Allianz Asset Management GmbH grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 535,954 shares of the biotechnology company’s stock after buying an additional 10,441 shares during the quarter. Allianz Asset Management GmbH owned 0.37% of Biogen worth $81,958,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Biogen in the third quarter worth about $33,000. Golden State Wealth Management LLC bought a new stake in shares of Biogen in the 4th quarter valued at approximately $41,000. Venturi Wealth Management LLC raised its holdings in shares of Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after buying an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after buying an additional 90 shares during the period. Finally, Quent Capital LLC boosted its stake in Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 72 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on BIIB. BMO Capital Markets dropped their price objective on Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. Sanford C. Bernstein assumed coverage on shares of Biogen in a research report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 target price for the company. Royal Bank of Canada cut their price target on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Canaccord Genuity Group decreased their price objective on shares of Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, StockNews.com cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $211.85.

Biogen Stock Performance

BIIB stock opened at $140.64 on Friday. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The company has a market cap of $20.59 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.47 and a beta of -0.08. The business’s fifty day moving average is $145.34 and its 200-day moving average is $171.22.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share 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%. Equities research analysts forecast that Biogen Inc. will post 15.84 EPS for the current 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.