Sentry Investment Management LLC Sells 96 Shares of Biogen Inc. (NASDAQ:BIIB)

Sentry Investment Management LLC lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 589 shares of the biotechnology company’s stock after selling 96 shares during the quarter. Sentry Investment Management LLC’s holdings in Biogen were worth $90,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Biogen by 3.5% during the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after purchasing an additional 248,942 shares during the last quarter. Geode Capital Management LLC increased its position in Biogen by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after buying an additional 47,055 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after buying an additional 2,648,024 shares in the last quarter. RA Capital Management L.P. lifted its position in shares of Biogen by 20.6% in the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after buying an additional 202,317 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Biogen by 1.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock worth $223,438,000 after acquiring an additional 18,905 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BIIB. Truist Financial cut their price objective on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Oppenheimer reduced their price objective on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Sanford C. Bernstein began coverage on shares of Biogen in a research note on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 target price on the stock. 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 report on Thursday, February 13th. Finally, TD Cowen lowered their price target on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Biogen presently has an average rating of “Hold” and an average target price of $213.33.

Biogen Trading Down 0.4 %

BIIB stock opened at $139.88 on Friday. 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 firm has a market cap of $20.47 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.51 and a beta of -0.08. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00. The business’s 50 day moving average is $144.55 and its 200-day moving average is $169.15.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results 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 return on equity of 14.98% and a net margin of 16.87%. Equities analysts anticipate 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.