Fulcrum Asset Management LLP Purchases 14,916 Shares of Biogen Inc. $BIIB

Fulcrum Asset Management LLP lifted its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 964.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,462 shares of the biotechnology company's stock after purchasing an additional 14,916 shares during the period. Fulcrum Asset Management LLP's holdings in Biogen were worth $3,738,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BIIB. BlackRock Inc. purchased a new stake in Biogen during the second quarter worth $3,453,878,000. Primecap Management Co. CA bought a new stake in Biogen during the 2nd quarter valued at $3,274,304,000. Wellington Management Group LLP increased its holdings in shares of Biogen by 5.3% in the 2nd quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company's stock valued at $673,560,000 after acquiring an additional 155,828 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of Biogen by 139.4% in the 3rd quarter. Pictet Asset Management Holding SA now owns 2,039,056 shares of the biotechnology company's stock valued at $460,582,000 after acquiring an additional 1,187,237 shares during the period. Finally, Amundi increased its holdings in shares of Biogen by 91.8% in the 2nd quarter. Amundi now owns 1,516,831 shares of the biotechnology company's stock valued at $327,727,000 after acquiring an additional 726,004 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BIIB shares. Morgan Stanley lifted their target price on Biogen from $231.00 to $238.00 and gave the company an "equal weight" rating in a research note on Thursday, October 29th. HC Wainwright raised their price target on shares of Biogen from $251.00 to $270.00 and gave the company a "buy" rating in a report on Monday, November 2nd. UBS Group raised their price target on shares of Biogen from $270.00 to $300.00 and gave the company a "buy" rating in a report on Thursday, October 29th. Stifel Nicolaus set a $242.00 price objective on shares of Biogen in a research report on Thursday, September 10th. Finally, Bank of America boosted their price objective on shares of Biogen from $219.00 to $244.00 and gave the stock a "neutral" rating in a research note on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Biogen has an average rating of "Moderate Buy" and an average target price of $254.41.

Biogen Trading Up 2.6%

NASDAQ BIIB opened at $254.87 on Tuesday. Biogen Inc. has a 12-month low of $153.77 and a 12-month high of $261.00. The company has a fifty day simple moving average of $230.73 and a two-hundred day simple moving average of $203.45. The company has a current ratio of 1.95, a quick ratio of 1.37 and a debt-to-equity ratio of 0.39. The stock has a market cap of $37.67 billion, a P/E ratio of 108.92, a P/E/G ratio of 2.89 and a beta of 0.10.

Biogen (NASDAQ:BIIB - Get Free Report) last released its earnings results on Wednesday, October 28th. The biotechnology company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.63. Biogen had a return on equity of 9.38% and a net margin of 3.37%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the prior year, the firm earned $4.81 EPS. The firm's revenue was up 10.6% on a year-over-year basis. On average, analysts forecast that Biogen Inc. will post 12.45 earnings per share for the current year.

Biogen Company Profile

Biogen is a biotechnology company focused on developing and commercializing medicines for neurological and rare diseases. Its areas of focus include multiple sclerosis, Alzheimer's disease, spinal muscular atrophy and Friedreich's ataxia.

Its products include multiple sclerosis treatments such as Tysabri, Tecfidera and Vumerity, and Skyclarys for Friedreich's ataxia. Biogen shares rights to several medicines with other companies, including Leqembi for Alzheimer's disease with Eisai and Spinraza for spinal muscular atrophy with Ionis Pharmaceuticals.

Founded in 1978, Biogen is headquartered in Cambridge, Massachusetts, and serves patients and healthcare providers in the United States and international markets.

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