AMF Tjanstepension AB Sells 4,818 Shares of Biogen Inc. (NASDAQ:BIIB)

AMF Tjanstepension AB decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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.

A number of other hedge funds also recently bought and sold shares of BIIB. Ashton Thomas Securities LLC bought a new position in shares of Biogen in the third quarter worth about $33,000. SRS Capital Advisors Inc. bought a new stake in shares of Biogen in the 4th quarter valued at about $33,000. Venturi Wealth Management LLC raised its position 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 last quarter. Itau Unibanco Holding S.A. raised its position in shares of Biogen by 63.8% in 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 during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of Biogen in the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of BIIB opened at $150.38 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 $22.01 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company’s 50 day simple moving average is $143.98 and its 200-day simple moving average is $166.46. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, equities analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BIIB. Citigroup reduced their price target on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Mizuho dropped their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Royal Bank of Canada decreased their target price on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Bank Of America (Bofa) reduced their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock 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.