Klingenstein Fields & Co. LP Has $418,000 Holdings in Biogen Inc. (NASDAQ:BIIB)

Klingenstein Fields & Co. LP decreased its position in Biogen Inc. (NASDAQ:BIIB) by 7.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,731 shares of the biotechnology company’s stock after selling 225 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Biogen were worth $418,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Exchange Traded Concepts LLC grew its holdings in Biogen by 4,516.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,662 shares of the biotechnology company’s stock worth $322,000 after acquiring an additional 1,626 shares during the last quarter. Swedbank AB grew its holdings in Biogen by 85.0% during the 3rd quarter. Swedbank AB now owns 185,008 shares of the biotechnology company’s stock worth $35,862,000 after acquiring an additional 84,981 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Biogen in the 3rd quarter valued at about $227,000. Sumitomo Life Insurance Co. boosted its stake in shares of Biogen by 4.3% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 3,906 shares of the biotechnology company’s stock valued at $757,000 after purchasing an additional 162 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Biogen in the 3rd quarter valued at about $388,000. Institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on BIIB. Robert W. Baird lifted their price objective on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Truist Financial reduced their price objective on shares of Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday. Wolfe Research began coverage on shares of Biogen in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Sanford C. Bernstein began coverage on shares of Biogen in a research note on Tuesday. They set a “market perform” rating and a $160.00 price objective on the stock. Finally, Citigroup reduced their price objective on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $211.96.

Biogen Stock Performance

NASDAQ:BIIB opened at $138.45 on Friday. The company has a market capitalization of $20.17 billion, a PE ratio of 12.51, a P/E/G ratio of 1.65 and a beta of -0.08. The company has a 50 day simple moving average of $147.73 and a two-hundred day simple moving average of $174.05. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00.

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 analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.81% and a return on equity of 14.98%. Research analysts anticipate that Biogen Inc. will post 16.42 earnings per share for the current year.

Biogen 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.