Rhumbline Advisers Has $41.07 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Rhumbline Advisers lessened its position in shares of Biogen Inc. (NASDAQ:BIIB) by 2.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 268,591 shares of the biotechnology company’s stock after selling 5,718 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Biogen worth $41,073,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BIIB. Ashton Thomas Securities LLC bought a new position in Biogen during the third quarter worth $33,000. Golden State Wealth Management LLC bought a new position in shares of Biogen in the 4th quarter worth about $41,000. Venturi Wealth Management LLC lifted its stake in shares of Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares during the period. Itau Unibanco Holding S.A. boosted its position in shares of Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 90 shares in the last quarter. Finally, Quent Capital LLC grew its stake in Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 72 shares during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 0.8 %

Shares of BIIB stock opened at $137.33 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm has a market cap of $20.01 billion, a P/E ratio of 12.41, a PEG ratio of 1.65 and a beta of -0.08. The company has a 50 day moving average of $146.90 and a 200-day moving average of $172.71. Biogen Inc. has a 12-month low of $128.51 and a 12-month 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, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Sell-side analysts anticipate that Biogen Inc. will post 16.42 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on BIIB shares. Stifel Nicolaus downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a research report on Monday, December 16th. The Goldman Sachs Group decreased their price target on shares of Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Citigroup cut their price objective on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. decreased their target price on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, Bank of America reissued a “neutral” rating and issued a $178.00 price objective on shares of Biogen in a research note on Tuesday, December 10th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $211.96.

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.