Biogen Inc. (NASDAQ:BIIB) Stock Holdings Lessened by Erste Asset Management GmbH

Erste Asset Management GmbH cut its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 79.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,316 shares of the biotechnology company's stock after selling 228,307 shares during the quarter. Erste Asset Management GmbH's holdings in Biogen were worth $8,975,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Biogen by 517.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 140,320 shares of the biotechnology company's stock valued at $21,458,000 after purchasing an additional 117,576 shares during the last quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $8,340,000. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $2,860,000. Hopwood Financial Services Inc. purchased a new position in shares of Biogen during the fourth quarter valued at approximately $46,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Biogen by 662.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,448 shares of the biotechnology company's stock valued at $221,000 after buying an additional 1,258 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Down 0.3 %

BIIB traded down $0.45 during trading hours on Tuesday, reaching $143.09. 1,506,874 shares of the stock traded hands, compared to its average volume of 1,239,828. The company has a market cap of $20.94 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.51 and a beta of 0.01. 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 fifty-two week low of $128.51 and a fifty-two week high of $238.00. The firm's fifty day simple moving average is $142.90 and its two-hundred day simple moving average is $163.58.

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Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data 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 net margin of 16.87% and a return on equity of 14.98%. As a group, analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares of the company's stock, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Bank of America reissued a "neutral" rating and set a $178.00 price objective on shares of Biogen in a research note on Tuesday, December 10th. Royal Bank of Canada reduced their price objective on shares of Biogen from $231.00 to $225.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Citigroup reduced their price objective on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Morgan Stanley reduced their price objective on shares of Biogen from $192.00 to $157.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Finally, BMO Capital Markets cut their price target on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating on the stock in a research note on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $213.33.

About Biogen

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.