BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 3,549 Shares of Biogen Inc. (NASDAQ:BIIB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 12.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,289 shares of the biotechnology company's stock after selling 3,549 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Biogen were worth $4,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Cetera Investment Advisers increased its holdings in shares of Biogen by 235.1% during the first quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company's stock valued at $3,204,000 after acquiring an additional 10,425 shares in the last quarter. Cetera Advisors LLC lifted its position in shares of Biogen by 120.6% during the 1st quarter. Cetera Advisors LLC now owns 3,175 shares of the biotechnology company's stock valued at $685,000 after buying an additional 1,736 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Biogen by 148.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,263 shares of the biotechnology company's stock valued at $293,000 after buying an additional 755 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Biogen by 48.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 494 shares of the biotechnology company's stock valued at $115,000 after buying an additional 161 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Biogen by 123.2% during the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company's stock valued at $36,000 after buying an additional 85 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BIIB shares. HC Wainwright reaffirmed a "buy" rating and set a $300.00 price target on shares of Biogen in a research report on Thursday, October 31st. Truist Financial reiterated a "buy" rating and set a $302.00 price objective (down from $340.00) on shares of Biogen in a research note on Monday, August 5th. Needham & Company LLC lowered Biogen from a "buy" rating to a "hold" rating and set a $270.00 price objective on the stock. in a research note on Monday, November 18th. Cantor Fitzgerald restated an "overweight" rating and issued a $292.00 target price on shares of Biogen in a research note on Monday, September 9th. Finally, StockNews.com upgraded Biogen from a "buy" rating to a "strong-buy" rating in a research note on Monday, September 2nd. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $257.20.

Biogen Stock Down 2.1 %

Shares of NASDAQ:BIIB traded down $3.38 during trading on Tuesday, hitting $160.85. The stock had a trading volume of 1,210,747 shares, compared to its average volume of 1,187,165. Biogen Inc. has a 12 month low of $153.62 and a 12 month high of $268.30. The company has a market capitalization of $23.44 billion, a PE ratio of 14.53, a PEG ratio of 1.55 and a beta of -0.08. The firm's fifty day moving average is $176.56 and its 200 day moving average is $201.80. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the company earned $4.36 EPS. The business's revenue was down 2.5% compared to the same quarter last year. Analysts anticipate that Biogen Inc. will post 16.45 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.