FIL Ltd Has $16.01 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

FIL Ltd reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 46.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,717 shares of the biotechnology company’s stock after selling 91,285 shares during the period. FIL Ltd owned approximately 0.07% of Biogen worth $16,013,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Inspire Trust Co. N.A. raised its holdings in shares of Biogen by 58.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after buying an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Biogen by 0.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after acquiring an additional 111 shares in the last quarter. Amundi lifted its holdings in shares of Biogen by 35.6% in the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after acquiring an additional 319,478 shares during the last quarter. Centre Asset Management LLC boosted its stake in shares of Biogen by 7.7% in the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after purchasing an additional 3,698 shares in the last quarter. Finally, Integrated Quantitative Investments LLC bought a new stake in shares of Biogen during the 4th quarter valued at approximately $407,000. 87.93% of the stock is currently owned by institutional investors.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This trade represents 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 the SEC website. 0.16% of the stock is currently owned by insiders.

Biogen Trading Up 1.6 %

BIIB opened at $115.17 on Friday. The company has a fifty day moving average price of $136.74 and a two-hundred day moving average price of $154.02. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $238.00. The company has a market cap of $16.86 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. 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 (NASDAQ:BIIB) last announced its quarterly earnings results 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%. Analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BIIB. Truist Financial dropped their price objective on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. StockNews.com downgraded Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Citigroup lowered their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Bank Of America (Bofa) cut their price target on Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Finally, Scotiabank lowered their price objective on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Eighteen research 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, the company has a consensus rating of “Hold” and a consensus price target of $213.15.

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.