Biogen Inc. (NASDAQ:BIIB) Shares Sold by Sector Gamma AS

Sector Gamma AS lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 17.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,000 shares of the biotechnology company's stock after selling 6,166 shares during the period. Biogen accounts for approximately 1.5% of Sector Gamma AS's investment portfolio, making the stock its 22nd biggest position. Sector Gamma AS's holdings in Biogen were worth $4,435,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Signaturefd LLC grew its holdings in Biogen by 3.5% in the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company's stock valued at $320,000 after buying an additional 71 shares in the last quarter. Quent Capital LLC boosted its position in shares of Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock valued at $46,000 after acquiring an additional 72 shares during the last quarter. TD Private Client Wealth LLC grew 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 purchasing an additional 77 shares during the period. Principal Securities Inc. increased its position in Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock worth $52,000 after purchasing an additional 78 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised 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 worth $767,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 87.93% of the company's stock.

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Biogen Price Performance

BIIB traded down $0.93 during trading on Tuesday, reaching $140.67. 118,934 shares of the stock were exchanged, compared to its average volume of 1,249,625. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The company has a market capitalization of $20.59 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The business's 50 day moving average price is $141.99 and its two-hundred day moving average price is $161.38.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (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 anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Wall Street Analyst Weigh In

BIIB has been the subject of several analyst reports. Royal Bank of Canada lowered their price objective on Biogen from $231.00 to $225.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Scotiabank lowered their price target on Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a report on Thursday, February 13th. Truist Financial reduced their price objective on shares of Biogen from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Canaccord Genuity Group lowered their target price on shares of Biogen from $298.00 to $265.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Jefferies Financial Group lowered shares of Biogen from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $250.00 to $180.00 in a report on Monday, December 9th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Biogen presently has an average rating of "Hold" and a consensus target price of $213.33.

Insider Buying and Selling

In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.16% of the company's stock.

About Biogen

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.