Empowered Funds LLC Has $654,000 Stake in Biogen Inc. (NASDAQ:BIIB)

Empowered Funds LLC reduced its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 77.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,277 shares of the biotechnology company's stock after selling 14,631 shares during the period. Empowered Funds LLC's holdings in Biogen were worth $654,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Pacer Advisors Inc. boosted its holdings in Biogen by 13,574.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock valued at $407,919,000 after purchasing an additional 2,648,024 shares during the period. International Assets Investment Management LLC boosted its holdings in Biogen by 19,722.9% in the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company's stock valued at $695,870,000 after purchasing an additional 357,181 shares during the period. Mizuho Securities USA LLC boosted its holdings in Biogen by 2,715.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company's stock valued at $61,253,000 after purchasing an additional 304,778 shares during the period. Erste Asset Management GmbH bought a new stake in Biogen in the 3rd quarter valued at $55,826,000. Finally, State Street Corp boosted its holdings in Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company's stock valued at $1,423,747,000 after purchasing an additional 248,942 shares during the period. 87.93% of the stock is owned by institutional investors.

Biogen Stock Up 2.6 %

BIIB traded up $3.56 during trading on Friday, reaching $140.64. The company had a trading volume of 1,807,418 shares, compared to its average volume of 1,448,058. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00. The business's fifty day moving average price is $145.34 and its 200 day moving average price is $171.22. The company has a market cap of $20.59 billion, a P/E ratio of 12.57, a PEG ratio of 1.47 and a beta of -0.08.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating 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%. Equities analysts anticipate that Biogen Inc. will post 15.84 EPS for the current year.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of research reports. Wells Fargo & Company reduced their price target on shares of Biogen from $165.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. HC Wainwright dropped their target price on shares of Biogen from $300.00 to $241.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. William Blair reiterated an "outperform" rating on shares of Biogen in a research report on Monday, January 13th. Morgan Stanley dropped their target price on shares of Biogen from $192.00 to $157.00 and set an "equal weight" rating for the company in a research report on Thursday, February 13th. Finally, Sanford C. Bernstein started coverage on shares of Biogen in a research report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 target price for the company. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Biogen currently has an average rating of "Hold" and an average target price of $211.85.

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.