J. Safra Sarasin Holding AG reduced its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 13.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,873 shares of the biotechnology company's stock after selling 9,745 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Biogen were worth $9,615,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the business. Larson Financial Group LLC increased its holdings in shares of Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after buying an additional 141 shares during the period. Lee Danner & Bass Inc. purchased a new position in Biogen in the 4th quarter worth approximately $25,000. OFI Invest Asset Management purchased a new position in Biogen in the 4th quarter worth approximately $32,000. SRS Capital Advisors Inc. bought a new stake in Biogen in the fourth quarter valued at approximately $33,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Biogen during the fourth quarter valued at approximately $41,000. Institutional investors own 87.93% of the company's stock.
Biogen Price Performance
Shares of Biogen stock traded down $0.67 during trading hours on Friday, hitting $118.84. The company's stock had a trading volume of 1,538,299 shares, compared to its average volume of 1,353,411. The company has a market cap of $17.40 billion, a PE ratio of 10.62, a PEG ratio of 1.51 and a beta of 0.06. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The business has a 50 day moving average price of $132.82 and a two-hundred day moving average price of $149.83. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $238.00.
Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.
Insider Buying and Selling at Biogen
In other news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares of the company's stock, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.
Analysts Set New Price Targets
BIIB has been the topic of a number of analyst reports. Canaccord Genuity Group decreased their price objective on shares of Biogen from $298.00 to $265.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Bank Of America (Bofa) lowered their price target on Biogen from $178.00 to $163.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Sanford C. Bernstein initiated coverage on Biogen in a report on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 price objective for the company. Wells Fargo & Company reduced their target price on Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Finally, William Blair reaffirmed an "outperform" rating on shares of Biogen in a research note on Monday, January 13th. Eighteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Biogen currently has an average rating of "Hold" and a consensus target price of $211.37.
Check Out Our Latest Analysis on BIIB
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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