Should You Buy Biogen Inc. (BIIB)?

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Biogen Inc. (NASDAQ:BIIB) but similarly valued. We will take a look at Accenture Plc (NYSE:ACN), Abbott Laboratories (NYSE:ABT), Union Pacific Corporation (NYSE:UNP), and Lockheed Martin Corporation (NYSE:LMT). This group of stocks’ market caps are similar to BIIB’s market cap.

As you can see these stocks had an average of 41 hedge funds with bullish positions and the average amount invested in these stocks was $1.44 billion. That figure was $3.74 billion in BIIB’s case. Union Pacific Corporation (NYSE:UNP) is the most popular stock in this table. On the other hand Accenture Plc (NYSE:ACN) is the least popular one with only 31 bullish hedge fund positions. Compared to these stocks, Biogen Inc. (NASDAQ:BIIB) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None