Martingale Asset Management L P Sells 20,850 Shares of Biogen Inc. (NASDAQ:BIIB)

Martingale Asset Management L P lowered its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 37.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,922 shares of the biotechnology company's stock after selling 20,850 shares during the quarter. Martingale Asset Management L P's holdings in Biogen were worth $5,340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Signaturefd LLC raised its holdings in Biogen by 3.5% during the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company's stock worth $320,000 after purchasing an additional 71 shares in the last quarter. Quent Capital LLC raised its stake in shares of Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock worth $46,000 after buying an additional 72 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company's stock valued at $75,000 after buying an additional 77 shares during the period. Principal Securities Inc. lifted its holdings in shares of Biogen by 30.1% in the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock valued at $52,000 after buying an additional 78 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Biogen by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company's stock valued at $767,000 after buying an additional 79 shares in the last quarter. Institutional investors own 87.93% of the company's stock.

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Insider Transactions at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

Biogen Stock Performance

BIIB traded down $1.85 during midday trading on Tuesday, reaching $117.41. The company's stock had a trading volume of 312,433 shares, compared to its average volume of 1,350,747. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $238.00. The stock has a market cap of $17.19 billion, a P/E ratio of 10.49, a PEG ratio of 1.51 and a beta of 0.06. The company has a fifty day simple moving average of $136.21 and a 200 day simple moving average of $153.22. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

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 (EPS) 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%. Research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on BIIB. BMO Capital Markets cut their price target on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating for the company in a report on Thursday, February 13th. Citigroup cut their target price on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Needham & Company LLC restated a "hold" rating on shares of Biogen in a research report on Thursday, February 13th. Bank Of America (Bofa) cut their price objective on Biogen from $178.00 to $163.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus cut Biogen from a "buy" rating to a "hold" rating and set a $175.00 target price on the stock. in a report on Monday, December 16th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Biogen presently has a consensus rating of "Hold" and a consensus price target of $213.15.

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.