Biogen Inc. (NASDAQ:BIIB) Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB lessened its position in Biogen Inc. (NASDAQ:BIIB) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,115 shares of the biotechnology company’s stock after selling 4,818 shares during the quarter. AMF Tjanstepension AB’s holdings in Biogen were worth $9,040,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its stake in shares of Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after buying an additional 248,942 shares during the period. 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 period. Pacer Advisors Inc. increased its position 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 worth $407,919,000 after buying an additional 2,648,024 shares during the period. RA Capital Management L.P. increased its holdings 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 valued at $229,595,000 after purchasing an additional 202,317 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Biogen by 1.7% during the third 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 during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

Biogen stock opened at $150.38 on Friday. The firm’s fifty day moving average price is $143.98 and its 200-day moving average price is $166.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock has a market cap of $22.01 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00.

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 analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, equities research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BIIB. Citigroup reduced their price objective on Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Truist Financial lowered their target price on Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. HC Wainwright reduced their target price on Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Royal Bank of Canada cut their price target on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, StockNews.com cut Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Biogen presently has an average rating of “Hold” and a consensus price target of $213.33.

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.