Biogen Inc. (NASDAQ:BIIB) Holdings Decreased by Swiss National Bank

Swiss National Bank lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 411,500 shares of the biotechnology company's stock after selling 20,600 shares during the quarter. Swiss National Bank owned about 0.28% of Biogen worth $62,927,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BIIB. Larson Financial Group LLC grew its holdings in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Biogen in the fourth quarter valued at $32,000. SRS Capital Advisors Inc. acquired a new stake in Biogen in the fourth quarter valued at $33,000. Golden State Wealth Management LLC acquired a new stake in Biogen in the fourth quarter valued at $41,000. Finally, Venturi Wealth Management LLC grew its holdings in Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company's stock valued at $42,000 after purchasing an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.16% of the company's stock.

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Biogen Stock Down 1.2 %

BIIB stock traded down $1.66 during midday trading on Wednesday, hitting $141.43. 1,180,385 shares of the company's stock were exchanged, compared to its average volume of 1,238,887. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The firm has a 50 day moving average price of $142.70 and a 200-day moving average price of $163.15. The stock has a market capitalization of $20.70 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

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 (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%. On average, analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BIIB. The Goldman Sachs Group lowered their target price on Biogen from $281.00 to $245.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Royal Bank of Canada decreased their price objective on Biogen from $231.00 to $225.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Bank Of America (Bofa) decreased their price objective on Biogen from $178.00 to $163.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Piper Sandler reaffirmed a "neutral" rating and set a $135.00 price objective (down previously from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Finally, Truist Financial decreased their price objective on Biogen from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Biogen currently has an average rating of "Hold" and an average target price of $213.33.

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.