Skandinaviska Enskilda Banken AB publ Reduces Position in Biogen Inc. (NASDAQ:BIIB)

Skandinaviska Enskilda Banken AB publ trimmed its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 24.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,047 shares of the biotechnology company's stock after selling 14,072 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Biogen were worth $6,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Inspire Trust Co. N.A. boosted its holdings in Biogen by 58.5% in the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company's stock worth $2,113,000 after acquiring an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of 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 purchasing an additional 111 shares during the last quarter. Centre Asset Management LLC boosted its stake in Biogen by 7.7% in the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company's stock worth $7,880,000 after purchasing an additional 3,698 shares in the last quarter. Amundi grew its position in Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company's stock valued at $183,461,000 after purchasing an additional 319,478 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company's stock valued at $176,982,000 after purchasing an additional 12,319 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In related 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 completion of the sale, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Bank of America restated a "neutral" rating and issued a $178.00 price objective on shares of Biogen in a report on Tuesday, December 10th. Needham & Company LLC restated a "hold" rating on shares of Biogen in a research note on Thursday, February 13th. The Goldman Sachs Group dropped 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. Citigroup lowered their target price on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Finally, Canaccord Genuity Group reduced their price target 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. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Biogen presently has an average rating of "Hold" and a consensus price target of $213.33.

Biogen Price Performance

Shares of NASDAQ BIIB traded down $1.66 during mid-day trading on Wednesday, hitting $141.43. 1,180,387 shares of the company's stock traded hands, compared to its average volume of 1,238,888. The company has a market capitalization of $20.70 billion, a P/E ratio of 12.64, a PEG 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 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's 50-day moving average is $142.70 and its two-hundred day moving average is $163.15.

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 for the quarter, beating 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%. On average, equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal 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.