Northwest & Ethical Investments L.P. Sells 5,428 Shares of Biogen Inc. (NASDAQ:BIIB)

Northwest & Ethical Investments L.P. decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 73.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,000 shares of the biotechnology company's stock after selling 5,428 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Biogen were worth $306,000 at the end of the most recent quarter.

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

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Biogen Stock Down 2.0 %

Shares of NASDAQ BIIB traded down $2.76 on Tuesday, reaching $138.84. 925,412 shares of the company's stock traded hands, compared to its average volume of 1,249,625. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The business's 50 day simple moving average is $141.99 and its two-hundred day simple moving average is $161.38. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00. The company has a market cap of $20.32 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB - Get Free Report) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, equities research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BIIB shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a research note on Thursday, February 13th. Piper Sandler restated a "neutral" rating and set a $135.00 price target (down from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Morgan Stanley decreased their price objective on Biogen from $192.00 to $157.00 and set an "equal weight" rating on the stock in a report on Thursday, February 13th. Citigroup dropped their target price on Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Finally, William Blair reaffirmed an "outperform" rating on shares of Biogen in a research note on Monday, January 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, Biogen presently has a consensus rating of "Hold" and a consensus target price of $213.33.

Insider Transactions at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction 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 $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.16% of the company's stock.

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.