Principal Securities Inc. Has $52,000 Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Principal Securities Inc. raised its position in Biogen Inc. (NASDAQ:BIIB) by 30.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 337 shares of the biotechnology company’s stock after buying an additional 78 shares during the period. Principal Securities Inc.’s holdings in Biogen were worth $52,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in BIIB. Pacer Advisors Inc. lifted its stake in shares of Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after acquiring an additional 2,648,024 shares during the period. Van ECK Associates Corp raised its holdings in Biogen by 977.9% during the 4th quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock worth $163,083,000 after purchasing an additional 967,523 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in Biogen by 2,715.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock worth $61,253,000 after purchasing an additional 304,778 shares during the last quarter. Erste Asset Management GmbH acquired a new position in Biogen during the 3rd quarter valued at about $55,826,000. Finally, State Street Corp boosted its stake in shares of Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after purchasing an additional 248,942 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BIIB has been the subject of a number of recent research reports. Piper Sandler reissued a “neutral” rating and set a $135.00 price target (down from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. The Goldman Sachs Group dropped their target price on shares of Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Bank of America restated a “neutral” rating and issued a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. BMO Capital Markets decreased 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. Finally, TD Cowen cut their target price on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Performance

Shares of Biogen stock opened at $139.88 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The firm has a market cap of $20.47 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.51 and a beta of -0.08. The stock’s 50-day moving average is $144.55 and its 200-day moving average is $169.15. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Equities analysts predict that Biogen Inc. will post 15.83 earnings per share 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.