Biogen Inc. (NASDAQ:BIIB) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 90.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,840 shares of the biotechnology company's stock after selling 223,695 shares during the period. Tocqueville Asset Management L.P.'s holdings in Biogen were worth $3,646,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIIB. Larson Financial Group LLC grew its stake in shares of Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 141 shares in the last quarter. OFI Invest Asset Management acquired a new stake in Biogen during the 4th quarter valued at approximately $32,000. SRS Capital Advisors Inc. purchased a new stake in Biogen during the 4th quarter worth approximately $33,000. Golden State Wealth Management LLC acquired a new position in shares of Biogen in the 4th quarter valued at approximately $41,000. Finally, Itau Unibanco Holding S.A. boosted its stake in shares of Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company's stock valued at $45,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Stock Performance

BIIB stock opened at $143.09 on Wednesday. The company has a 50-day simple moving average of $142.70 and a 200 day simple moving average of $163.15. The company has a market capitalization of $20.94 billion, a P/E ratio of 12.79, a PEG ratio of 1.51 and a beta of 0.01. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00.

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Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping analysts' consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Sell-side analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com cut shares of Biogen from a "strong-buy" rating to a "buy" rating in a report on Saturday, December 28th. Truist Financial cut their target price on shares of Biogen from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Mizuho reduced their price target on shares of Biogen from $251.00 to $207.00 and set an "outperform" rating on the stock in a research report on Thursday, November 21st. Wells Fargo & Company lowered their price objective on Biogen from $165.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. Finally, Bank of America reaffirmed a "neutral" rating and set a $178.00 target price on shares of Biogen in a report on Tuesday, December 10th. Seventeen investment 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 presently has an average rating of "Hold" and a consensus price target 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.

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