Northwest & Ethical Investments L.P. Sells 5,428 Shares of Biogen Inc. (NASDAQ:BIIB)

Northwest & Ethical Investments L.P. decreased its stake in Biogen Inc. (NASDAQ:BIIB) by 73.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,000 shares of the biotechnology company’s stock after selling 5,428 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Biogen were worth $306,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Signaturefd LLC raised its holdings in Biogen by 3.5% in the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock valued at $320,000 after acquiring an additional 71 shares in the last quarter. Quent Capital LLC increased its position in shares of Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 72 shares during the period. TD Private Client Wealth LLC raised its stake in shares of Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares in the last quarter. Principal Securities Inc. lifted its position in Biogen by 30.1% in the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 78 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Biogen by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock worth $767,000 after buying an additional 79 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Down 0.3 %

NASDAQ:BIIB opened at $140.90 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The stock’s fifty day simple moving average is $142.16 and its 200-day simple moving average is $162.11. The firm has a market capitalization of $20.62 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.51 and a beta of 0.01.

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, 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 expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on BIIB. Sanford C. Bernstein began coverage on shares of Biogen in a report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price objective for the company. Canaccord Genuity Group dropped their target price on Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research note on Monday, December 16th. Wells Fargo & Company dropped their price objective on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Biogen currently has an average rating of “Hold” and an average price target of $213.33.

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value 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 approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by company insiders.

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.