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

Cidel Asset Management Inc. boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 14.5% in the 4th quarter, Holdings Channel.com reports. 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 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in BIIB. Ashton Thomas Securities LLC bought a new stake in shares of Biogen in the third quarter valued at $33,000. Golden State Wealth Management LLC purchased a new stake in Biogen in the 4th quarter worth about $41,000. Venturi Wealth Management LLC raised its stake in Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 93 shares during the period. Itau Unibanco Holding S.A. lifted its holdings in Biogen by 63.8% during the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 90 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in Biogen by 228.7% during the fourth quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 279 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BIIB shares. Piper Sandler lowered shares of Biogen from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $315.00 to $138.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lowered their target price on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Oppenheimer cut their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Finally, Wells Fargo & Company cut their target price on Biogen from $190.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $228.80.

Biogen Stock Performance

NASDAQ BIIB opened at $141.35 on Monday. The company has a 50-day simple moving average of $149.14 and a two-hundred day simple moving average of $175.79. Biogen Inc. has a 12-month low of $139.71 and a 12-month high of $244.95. The firm has a market cap of $20.60 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.65 and a beta of -0.08. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

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.