Voya Investment Management LLC Has $11.86 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Voya Investment Management LLC lessened its position in Biogen Inc. (NASDAQ:BIIB) by 4.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 77,581 shares of the biotechnology company’s stock after selling 3,193 shares during the quarter. Voya Investment Management LLC’s holdings in Biogen were worth $11,864,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Inspire Trust Co. N.A. raised its position in Biogen by 58.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after buying an additional 4,025 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after purchasing an additional 111 shares during the last quarter. Amundi increased its position in shares of Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after purchasing an additional 319,478 shares during the last quarter. Centre Asset Management LLC increased its position in shares of Biogen by 7.7% during the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after purchasing an additional 3,698 shares during the last quarter. Finally, Integrated Quantitative Investments LLC acquired a new position in shares of Biogen during the 4th quarter worth approximately $407,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Trading Up 0.2 %

BIIB opened at $119.12 on Tuesday. 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 twelve month low of $110.04 and a twelve month high of $238.00. The stock has a market capitalization of $17.44 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 1.51 and a beta of 0.06. The company has a 50-day simple moving average of $132.12 and a 200 day simple moving average of $148.38.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

BIIB has been the topic of several recent analyst reports. Canaccord Genuity Group lowered their price target on Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Argus lowered Biogen from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Truist Financial reduced 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. Finally, Scotiabank reduced their target price on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Nineteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Biogen currently has an average rating of “Hold” and a consensus price target of $203.07.

Biogen 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.