Biogen Inc. (NASDAQ:BIIB) Shares Sold by Candriam S.C.A.

Candriam S.C.A. cut its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 201,964 shares of the biotechnology company’s stock after selling 10,493 shares during the quarter. Candriam S.C.A.’s holdings in Biogen were worth $30,884,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Biogen during the third quarter worth $33,000. SRS Capital Advisors Inc. acquired a new stake in Biogen in the fourth quarter valued at $33,000. Golden State Wealth Management LLC acquired a new stake in Biogen in the fourth quarter valued at $41,000. Venturi Wealth Management LLC lifted its holdings in 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 acquiring an additional 93 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its holdings in 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. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BIIB shares. BMO Capital Markets reduced their target price on Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a report on Thursday, February 13th. Truist Financial cut their price target on Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Robert W. Baird lifted their price target on Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. StockNews.com downgraded Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Finally, Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and cut their price target for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Biogen has an average rating of “Hold” and an average target price of $213.33.

Biogen Stock Performance

NASDAQ BIIB opened at $143.77 on Thursday. The business’s 50-day simple moving average is $144.05 and its 200-day simple moving average is $167.25. The firm has a market capitalization of $21.04 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.51 and a beta of -0.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS 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%. Equities analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

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.