Russell Investments Group Ltd. lowered its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 7.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 121,763 shares of the biotechnology company's stock after selling 9,687 shares during the period. Russell Investments Group Ltd. owned 0.08% of Biogen worth $18,596,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Aviva PLC raised its holdings in shares of Biogen by 373.4% during the fourth quarter. Aviva PLC now owns 87,731 shares of the biotechnology company's stock valued at $13,416,000 after buying an additional 69,199 shares during the last quarter. Rhenman & Partners Asset Management AB boosted its position in Biogen by 84.4% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 123,700 shares of the biotechnology company's stock worth $18,916,000 after acquiring an additional 56,600 shares during the period. Resona Asset Management Co. Ltd. bought a new position in shares of Biogen in the fourth quarter worth $6,811,000. Integrated Quantitative Investments LLC acquired a new position in shares of Biogen during the fourth quarter valued at $407,000. Finally, World Investment Advisors raised its stake in shares of Biogen by 9.5% during the fourth quarter. World Investment Advisors now owns 6,311 shares of the biotechnology company's stock valued at $965,000 after purchasing an additional 545 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.
Insider Activity at Biogen
In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the 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 owns 11,318 shares in the company, valued at $1,697,926.36. This trade 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 at the SEC website. 0.16% of the stock is owned by company insiders.
Biogen Stock Down 1.4 %
NASDAQ BIIB traded down $1.62 during trading on Tuesday, reaching $117.64. The company's stock had a trading volume of 264,098 shares, compared to its average volume of 1,350,465. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $17.22 billion, a PE ratio of 10.52, a PEG ratio of 1.51 and a beta of 0.06. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $238.00. The business has a 50-day moving average price of $136.21 and a 200-day moving average price of $153.22.
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 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, research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of analysts have commented on the stock. Sanford C. Bernstein started coverage on shares of Biogen in a research report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 price target on the stock. HC Wainwright dropped their target price on Biogen from $300.00 to $241.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Citigroup decreased their price target on Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company dropped their price objective on Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Finally, StockNews.com cut Biogen from a "strong-buy" rating to a "buy" rating in a research note on Saturday, December 28th. Eighteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Biogen has an average rating of "Hold" and an average target price of $213.15.
Read Our Latest Stock Report on Biogen
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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