Biogen Inc. (NASDAQ:BIIB) Shares Sold by National Bank of Canada FI

National Bank of Canada FI reduced its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 177,889 shares of the biotechnology company's stock after selling 13,576 shares during the quarter. National Bank of Canada FI owned approximately 0.12% of Biogen worth $27,203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Larson Financial Group LLC raised its holdings in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after buying an additional 141 shares during the period. Lee Danner & Bass Inc. acquired a new stake in Biogen during the 4th quarter worth $25,000. OFI Invest Asset Management acquired a new position in shares of Biogen in the 4th quarter valued at $32,000. SRS Capital Advisors Inc. purchased a new stake in shares of Biogen during the fourth quarter worth approximately $33,000. Finally, Golden State Wealth Management LLC acquired a new position in Biogen during the fourth quarter worth $41,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Down 5.9 %

Shares of Biogen stock traded down $7.73 during trading on Friday, hitting $122.98. 3,089,525 shares of the stock traded hands, compared to its average volume of 1,324,951. 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 firm has a market cap of $18.00 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The stock's fifty day simple moving average is $140.68 and its 200 day simple moving average is $157.90. Biogen Inc. has a 52-week low of $122.77 and a 52-week high of $238.00.

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Biogen (NASDAQ:BIIB - Get Free Report) last announced its 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%. On average, equities analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling

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 shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the transaction, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BIIB shares. Royal Bank of Canada decreased their price objective on shares of Biogen from $231.00 to $225.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Sanford C. Bernstein assumed coverage on Biogen in a report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 target price for the company. Citigroup cut their price target on Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a research report on Thursday, February 13th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $135.00 target price (down previously from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Eighteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $213.33.

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.