Natixis Advisors LLC Sells 7,796 Shares of Biogen Inc. (NASDAQ:BIIB)

Natixis Advisors LLC cut its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 31.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,961 shares of the biotechnology company's stock after selling 7,796 shares during the quarter. Natixis Advisors LLC's holdings in Biogen were worth $2,594,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Inspire Trust Co. N.A. raised its holdings in Biogen by 58.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company's stock valued at $2,113,000 after acquiring an additional 4,025 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Biogen by 0.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company's stock valued at $6,646,000 after purchasing an additional 111 shares in the last quarter. Centre Asset Management LLC raised its stake in shares of Biogen by 7.7% during the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company's stock valued at $7,880,000 after purchasing an additional 3,698 shares during the period. Amundi lifted its holdings in Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company's stock worth $183,461,000 after purchasing an additional 319,478 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Biogen by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company's stock worth $176,982,000 after purchasing an additional 12,319 shares during the period. Institutional investors own 87.93% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BIIB. Bank of America reiterated a "neutral" rating and set a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. William Blair reaffirmed an "outperform" rating on shares of Biogen in a research note on Monday, January 13th. Jefferies Financial Group cut shares of Biogen from a "buy" rating to a "hold" rating and lowered their target price for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. BMO Capital Markets reduced their price target on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating for the company in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group lowered their price objective on Biogen from $281.00 to $245.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $213.33.

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Biogen Trading Down 1.2 %

Shares of NASDAQ:BIIB traded down $1.68 during trading on Tuesday, reaching $139.92. 805,401 shares of the company traded hands, compared to its average volume of 1,563,492. 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 Inc. has a 52-week low of $128.51 and a 52-week high of $238.00. The business's fifty day moving average is $141.99 and its 200-day moving average is $161.38. The firm has a market capitalization of $20.48 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) 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%. As a group, analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

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.