Securian Asset Management Inc. Lowers Stake in Biogen Inc. (NASDAQ:BIIB)

Securian Asset Management Inc. reduced its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 3.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,696 shares of the biotechnology company’s stock after selling 300 shares during the period. Securian Asset Management Inc.’s holdings in Biogen were worth $1,177,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Hopwood Financial Services Inc. purchased a new position in Biogen during the 4th quarter worth $46,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Biogen by 662.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,448 shares of the biotechnology company’s stock valued at $221,000 after acquiring an additional 1,258 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Biogen by 31.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,026 shares of the biotechnology company’s stock valued at $463,000 after acquiring an additional 729 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Biogen by 19.2% in the fourth quarter. Moors & Cabot Inc. now owns 1,335 shares of the biotechnology company’s stock valued at $204,000 after acquiring an additional 215 shares in the last quarter. Finally, Wealthfront Advisers LLC boosted its holdings in shares of Biogen by 1,608.7% in the fourth quarter. Wealthfront Advisers LLC now owns 53,858 shares of the biotechnology company’s stock valued at $8,236,000 after acquiring an additional 50,706 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BIIB shares. StockNews.com downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Royal Bank of Canada lowered their target price on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Bank Of America (Bofa) lowered their target price on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Bank of America reissued a “neutral” rating and set a $178.00 price objective on shares of Biogen in a report on Tuesday, December 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $213.33.

Biogen Stock Performance

NASDAQ:BIIB opened at $139.44 on Friday. The firm has a 50 day simple moving average of $143.09 and a 200-day simple moving average of $164.57. 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 firm has a market cap of $20.41 billion, a PE ratio of 12.46, 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.

Biogen (NASDAQ:BIIB) 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 net margin of 16.87% and a return on equity of 14.98%. On average, equities analysts expect that Biogen Inc. will post 15.83 EPS 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.