Kennedy Investment Group Sells 172 Shares of Biogen Inc. (NASDAQ:BIIB)

Kennedy Investment Group lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,921 shares of the biotechnology company’s stock after selling 172 shares during the period. Kennedy Investment Group’s holdings in Biogen were worth $294,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BIIB. Inspire Trust Co. N.A. grew its position in Biogen by 58.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after purchasing an additional 4,025 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Biogen by 0.3% in the 4th 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. Centre Asset Management LLC grew its holdings in Biogen by 7.7% during the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after buying an additional 3,698 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after buying an additional 12,319 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Biogen by 3.2% in the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after purchasing an additional 5,270 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

BIIB has been the subject of a number of analyst reports. Mizuho lowered their price target on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Truist Financial lowered their price target on Biogen from $302.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Needham & Company LLC downgraded Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target for the company. in a research report on Monday, November 18th. StockNews.com downgraded Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Finally, Wolfe Research began coverage on Biogen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Biogen presently has an average rating of “Hold” and a consensus target price of $228.80.

Biogen Price Performance

BIIB opened at $145.49 on Wednesday. The business’s 50-day moving average is $151.75 and its two-hundred day moving average is $180.64. Biogen Inc. has a 1 year low of $139.71 and a 1 year high of $251.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The firm has a market capitalization of $21.20 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.64 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm earned $4.36 earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. Research analysts anticipate that Biogen Inc. will post 16.41 earnings per share for the current fiscal year.

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.