FIL Ltd trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 46.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,717 shares of the biotechnology company's stock after selling 91,285 shares during the period. FIL Ltd owned about 0.07% of Biogen worth $16,013,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Invesco Ltd. increased its holdings in shares of Biogen by 30.6% in the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock valued at $325,537,000 after purchasing an additional 499,074 shares during the period. Cerity Partners LLC grew its stake in Biogen by 183.8% in the fourth quarter. Cerity Partners LLC now owns 22,091 shares of the biotechnology company's stock valued at $3,520,000 after purchasing an additional 14,306 shares in the last quarter. FMR LLC raised its stake in shares of Biogen by 98.7% during the 4th quarter. FMR LLC now owns 757,570 shares of the biotechnology company's stock worth $115,848,000 after purchasing an additional 376,356 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Biogen by 64.8% in the 4th quarter. Quadrant Capital Group LLC now owns 669 shares of the biotechnology company's stock valued at $102,000 after buying an additional 263 shares in the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co raised its position in Biogen by 33.3% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 24,000 shares of the biotechnology company's stock valued at $3,670,000 after acquiring an additional 6,000 shares in the last quarter. Institutional investors own 87.93% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $135.00 price objective (down previously from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. William Blair restated an "outperform" rating on shares of Biogen in a report on Monday, January 13th. Sanford C. Bernstein began coverage on Biogen in a report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 price target on the stock. Wells Fargo & Company decreased their price objective 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. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a research report on Wednesday. Eighteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Biogen currently has an average rating of "Hold" and an average target price of $213.15.
Read Our Latest Report on Biogen
Insider Buying and Selling
In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by insiders.
Biogen Trading Down 1.4 %
NASDAQ:BIIB traded down $1.69 on Wednesday, hitting $115.29. 1,331,135 shares of the stock were exchanged, compared to its average volume of 1,354,173. The stock has a market capitalization of $16.88 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 1.51 and a beta of 0.06. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00. The company's 50-day moving average price is $135.71 and its 200 day moving average price is $152.96.
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, beating 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%. On average, equities research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.
Biogen Profile
(
Free Report)
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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