ADAR1 Capital Management LLC decreased its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 89.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,045 shares of the biotechnology company's stock after selling 26,580 shares during the period. ADAR1 Capital Management LLC's holdings in Biogen were worth $466,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in shares of Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock valued at $407,919,000 after acquiring an additional 2,648,024 shares in the last quarter. Norges Bank acquired a new stake in Biogen during the fourth quarter valued at $355,569,000. Van ECK Associates Corp boosted its position in Biogen by 977.9% during the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company's stock valued at $163,083,000 after purchasing an additional 967,523 shares during the last quarter. FMR LLC grew its stake in Biogen by 98.7% in the fourth quarter. FMR LLC now owns 757,570 shares of the biotechnology company's stock valued at $115,848,000 after purchasing an additional 376,356 shares in the last quarter. Finally, Amundi increased its position in Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company's stock worth $183,461,000 after purchasing an additional 319,478 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on BIIB shares. The Goldman Sachs Group lowered their price target on Biogen from $281.00 to $245.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Argus lowered shares of Biogen from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Stifel Nicolaus lowered shares of Biogen from a "buy" rating to a "hold" rating and set a $175.00 price objective for the company. in a research note on Monday, December 16th. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a report on Thursday, February 13th. Finally, Bank Of America (Bofa) cut their target price on Biogen from $178.00 to $163.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $213.15.
Get Our Latest Stock Analysis on Biogen
Insider Activity
In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.
Biogen Price Performance
NASDAQ:BIIB traded up $1.79 during mid-day trading on Friday, hitting $115.17. The company's stock had a trading volume of 1,618,683 shares, compared to its average volume of 1,352,977. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average of $136.74 and a 200-day moving average of $154.02. The company has a market capitalization of $16.86 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 1.51 and a beta of 0.06. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $238.00.
Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, equities analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.
About Biogen
(
Free Report)
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.
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