Fri Sep 20 12:20:55 UTC 2024: ## Biogen (BIIB) Sees Increased Institutional Interest as Investors Buy into the Biotechnology Company
**New York, NY (MarketBeat News)** – Biogen Inc. (NASDAQ:BIIB), a leading developer of neurological and neurodegenerative disease treatments, has seen increased investment from several institutional investors.
Citizens Financial Group Inc. RI recently acquired a new stake in Biogen, purchasing 1,033 shares valued at approximately $239,000. This move follows significant investments by other institutional investors, including Vanguard Group Inc., FIL Ltd, First Trust Advisors LP, Van ECK Associates Corp, and Primecap Management Co. CA, who have all significantly increased their holdings in the company.
Currently, 87.93% of Biogen’s stock is owned by institutional investors, demonstrating strong confidence in the company’s future prospects.
Analysts have also expressed optimism about Biogen’s performance. While some have lowered their price targets, the majority of analysts maintain a “buy” rating on the stock, with an average target price of $275.52.
Biogen’s stock opened at $201.44 on Friday, and the company currently boasts a market cap of $29.33 billion.
While insider trading activity has seen some selling, the overall positive sentiment surrounding Biogen suggests continued confidence in the company’s growth trajectory.
**Note:** This news article has been rewritten to focus on key information about Biogen’s recent investment activity and analyst sentiment.
First Piper 