Cidel Asset Management Inc. Purchases 191 Shares of Biogen Inc. (NASDAQ:BIIB)

Cidel Asset Management Inc. boosted its position in Biogen Inc. (NASDAQ:BIIB) by 14.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,512 shares of the biotechnology company’s stock after purchasing an additional 191 shares during the period. Cidel Asset Management Inc.’s holdings in Biogen were worth $231,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BIIB. Grandfield & Dodd LLC increased its holdings in Biogen by 5.2% in the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 62 shares during the period. Quintet Private Bank Europe S.A. increased its stake in shares of Biogen by 9.7% in the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 63 shares during the period. TD Private Client Wealth LLC raised its position in shares of Biogen by 25.0% during the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after acquiring an additional 77 shares during the last quarter. Huntington National Bank lifted its stake in shares of Biogen by 3.5% in the third quarter. Huntington National Bank now owns 2,308 shares of the biotechnology company’s stock worth $447,000 after acquiring an additional 79 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Biogen by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock valued at $767,000 after acquiring an additional 79 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Performance

Shares of BIIB stock opened at $141.35 on Monday. Biogen Inc. has a one year low of $139.71 and a one year high of $244.95. The company has a market cap of $20.60 billion, a P/E ratio of 12.77, a P/E/G ratio of 1.65 and a beta of -0.08. The firm has a 50-day moving average of $149.14 and a 200-day moving average of $175.79. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

Analysts Set New Price Targets

Several research firms have issued reports on BIIB. Mizuho lowered their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. JPMorgan Chase & Co. lowered their target price on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. 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 research report on Thursday, October 31st. Bank of America reissued a “neutral” rating and issued a $178.00 price objective on shares of Biogen in a research report on Tuesday, December 10th. Finally, Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price on the stock. in a research report on Monday, December 16th. Sixteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $228.80.

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.