Stephens Inc. AR Sells 2,270 Shares of Biogen Inc. (NASDAQ:BIIB)

Stephens Inc. AR reduced its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 41.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,145 shares of the biotechnology company's stock after selling 2,270 shares during the quarter. Stephens Inc. AR's holdings in Biogen were worth $481,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in shares of Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock valued at $407,919,000 after purchasing an additional 2,648,024 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Biogen by 19,722.9% during the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company's stock valued at $695,870,000 after purchasing an additional 357,181 shares during the last quarter. Mizuho Securities USA LLC increased its position in shares of Biogen by 2,715.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company's stock valued at $61,253,000 after purchasing an additional 304,778 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Biogen during the 3rd quarter valued at about $55,826,000. Finally, State Street Corp boosted its holdings in Biogen by 3.5% during the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company's stock valued at $1,423,747,000 after acquiring an additional 248,942 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Jefferies Financial Group cut Biogen from a "buy" rating to a "hold" rating and dropped their target price for the company from $250.00 to $180.00 in a report on Monday, December 9th. Stifel Nicolaus cut Biogen from a "buy" rating to a "hold" rating and set a $175.00 target price for the company. in a report on Monday, December 16th. Morgan Stanley dropped their target price on Biogen from $192.00 to $157.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. Sanford C. Bernstein assumed coverage on Biogen in a report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 target price for the company. Finally, Oppenheimer dropped their target price on Biogen from $270.00 to $255.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Biogen currently has a consensus rating of "Hold" and an average target price of $211.85.

Biogen Stock Down 0.6 %

BIIB stock traded down $0.88 on Tuesday, reaching $136.45. 366,517 shares of the company traded hands, compared to its average volume of 1,382,103. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The company has a market cap of $19.88 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. The firm has a fifty day simple moving average of $146.52 and a 200-day simple moving average of $172.19.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating analysts' consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Research analysts anticipate that Biogen Inc. will post 16.42 earnings per share for the current year.

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.