Groupama Asset Managment Sells 10,650 Shares of Biogen Inc. (NASDAQ:BIIB)

Groupama Asset Managment reduced its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 51.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,872 shares of the biotechnology company's stock after selling 10,650 shares during the period. Groupama Asset Managment's holdings in Biogen were worth $1,483,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BIIB. Lee Danner & Bass Inc. bought a new position in shares of Biogen during the 4th quarter valued at $25,000. 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 buying an additional 141 shares during the last quarter. SRS Capital Advisors Inc. purchased a new position in shares of Biogen in the fourth quarter worth about $33,000. OFI Invest Asset Management bought a new stake in shares of Biogen in the 4th quarter valued at about $32,000. Finally, Itau Unibanco Holding S.A. boosted its holdings in 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 acquiring an additional 90 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction dated 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 transaction, the director now owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have weighed in on BIIB. Scotiabank lowered their price objective on Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a research report on Thursday, February 13th. Sanford C. Bernstein started coverage on shares of Biogen in a report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 price target for the company. Bank of America reissued a "neutral" rating and issued a $178.00 price target on shares of Biogen in a report on Tuesday, December 10th. HC Wainwright lowered their price objective on shares of Biogen from $300.00 to $241.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, William Blair reissued an "outperform" rating on shares of Biogen in a research note on Monday, January 13th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Biogen currently has an average rating of "Hold" and an average target price of $213.33.

Biogen Stock Down 3.0 %

NASDAQ:BIIB traded down $3.65 on Monday, reaching $119.33. 799,497 shares of the stock traded hands, compared to its average volume of 1,322,994. The company's fifty day simple moving average is $140.68 and its 200 day simple moving average is $157.34. Biogen Inc. has a 12 month low of $117.56 and a 12 month high of $238.00. 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 company has a market capitalization of $17.47 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 1.51 and a beta of 0.06.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating 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%. Equities analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Biogen 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.