Natixis Has $4.34 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Natixis cut its holdings in Biogen Inc. (NASDAQ:BIIB) by 75.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,392 shares of the biotechnology company’s stock after selling 88,057 shares during the period. Natixis’ holdings in Biogen were worth $4,342,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its position in 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 buying an additional 2,648,024 shares in the last quarter. Norges Bank bought a new position in Biogen in the fourth quarter valued at approximately $355,569,000. Van ECK Associates Corp increased its position in shares of Biogen by 977.9% during the 4th quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock worth $163,083,000 after purchasing an additional 967,523 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Biogen by 30.6% in the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company’s stock valued at $325,537,000 after buying an additional 499,074 shares during the last quarter. Finally, FMR LLC increased its holdings in Biogen by 98.7% during the fourth quarter. FMR LLC now owns 757,570 shares of the biotechnology company’s stock worth $115,848,000 after buying an additional 376,356 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Buying and Selling

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by corporate insiders.

Biogen Trading Down 1.8 %

BIIB opened at $116.49 on Tuesday. The company’s 50 day moving average is $133.95 and its 200-day moving average is $150.71. The company has a market cap of $17.05 billion, a P/E ratio of 10.41, a PEG ratio of 1.51 and a beta of 0.06. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $238.00. 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 issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share 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.

Analysts Set New Price Targets

BIIB has been the topic of several recent analyst reports. Sanford C. Bernstein began coverage on shares of Biogen in a research note on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price objective on the stock. Morgan Stanley cut their price objective on Biogen from $157.00 to $152.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. BMO Capital Markets dropped their price target on Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research note on Thursday, February 13th. HC Wainwright decreased their price objective on shares of Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Canaccord Genuity Group cut their target price on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.