UniSuper Management Pty Ltd Sells 42,345 Shares of Biogen Inc. (NASDAQ:BIIB)

UniSuper Management Pty Ltd reduced its position in Biogen Inc. (NASDAQ:BIIB) by 72.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 16,485 shares of the biotechnology company’s stock after selling 42,345 shares during the period. UniSuper Management Pty Ltd’s holdings in Biogen were worth $2,521,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. boosted its stake 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 worth $407,919,000 after acquiring an additional 2,648,024 shares during the period. Van ECK Associates Corp lifted its holdings in Biogen by 977.9% during the 4th quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock valued at $163,083,000 after purchasing an additional 967,523 shares during the last quarter. Amundi boosted its position in Biogen by 35.6% during the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after purchasing an additional 319,478 shares during the period. Erste Asset Management GmbH acquired a new position in shares of Biogen in the third quarter valued at $55,826,000. Finally, State Street Corp raised its position in shares of Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after purchasing an additional 248,942 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the subject of several research analyst reports. Sanford C. Bernstein assumed coverage on shares of Biogen in a report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 target price for the company. Royal Bank of Canada reduced their price objective on Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Piper Sandler reiterated a “neutral” rating and set a $135.00 target price (down previously from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and reduced their price target for the company from $250.00 to $180.00 in a research note on Monday, December 9th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $178.00 price objective on shares of Biogen in a report on Tuesday, December 10th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Biogen currently has an average rating of “Hold” and a consensus target price of $213.33.

Insider Buying and Selling

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company’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 transaction, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by corporate insiders.

Biogen Trading Down 1.4 %

BIIB opened at $138.37 on Friday. The company has a market cap of $20.25 billion, a P/E ratio of 12.37, a PEG ratio of 1.51 and a beta of 0.01. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $141.88 and its 200-day moving average is $159.97. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Equities research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Biogen 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.