Northwest & Ethical Investments L.P. Has $306,000 Position in Biogen Inc. (NASDAQ:BIIB)

Northwest & Ethical Investments L.P. lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 73.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,000 shares of the biotechnology company’s stock after selling 5,428 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Biogen were worth $306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BIIB. Larson Financial Group LLC lifted its holdings in Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 141 shares during the last quarter. OFI Invest Asset Management bought a new position in Biogen during the 4th quarter worth $32,000. SRS Capital Advisors Inc. bought a new position in Biogen during the 4th quarter worth $33,000. Golden State Wealth Management LLC acquired a new stake in shares of Biogen during the fourth quarter worth $41,000. Finally, Itau Unibanco Holding S.A. boosted its position in shares of Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 90 shares during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Down 0.3 %

BIIB stock opened at $140.90 on Friday. The company has a market cap of $20.62 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 1.51 and a beta of 0.01. 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 business’s 50-day moving average is $142.16 and its two-hundred day moving average is $162.11. 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 earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating 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%. As a group, analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Transactions at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the business’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 approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BIIB has been the topic of several recent research reports. StockNews.com cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. The Goldman Sachs Group dropped their price objective on Biogen from $281.00 to $245.00 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 target price on the stock. in a report on Monday, December 16th. Royal Bank of Canada dropped their price target on Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research note on Thursday, February 13th. Seventeen equities 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, Biogen currently has a consensus rating of “Hold” and a consensus price target of $213.33.

About Biogen

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.