Biogen Inc. (NASDAQ:BIIB) Position Cut by Swiss National Bank

Swiss National Bank lowered its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 4.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 411,500 shares of the biotechnology company’s stock after selling 20,600 shares during the period. Swiss National Bank’s holdings in Biogen were worth $62,927,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its stake in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 141 shares during the period. OFI Invest Asset Management acquired a new stake in Biogen in the fourth quarter worth approximately $32,000. SRS Capital Advisors Inc. acquired a new position in shares of Biogen during the 4th quarter valued at $33,000. Golden State Wealth Management LLC acquired a new position in shares of Biogen during the 4th quarter valued at $41,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 93 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BIIB. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Sanford C. Bernstein initiated coverage on shares of Biogen in a report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 target price on the stock. StockNews.com cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. BMO Capital Markets dropped their price target on Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a report on Thursday, February 13th. Finally, Bank Of America (Bofa) reduced their price objective on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $213.33.

Insider Activity at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

Biogen Price Performance

Shares of Biogen stock opened at $139.44 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 fifty day simple moving average of $143.09 and a 200-day simple moving average of $164.30. The stock has a market capitalization of $20.41 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share 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, sell-side analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

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.