DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Sells 3,214 Shares of Biogen Inc. (NASDAQ:BIIB)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main trimmed its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,818 shares of the biotechnology company's stock after selling 3,214 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Biogen were worth $11,135,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIIB. Principal Financial Group Inc. lifted its holdings in shares of Biogen by 3.2% during the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company's stock worth $32,687,000 after buying an additional 5,270 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Biogen by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company's stock worth $767,000 after buying an additional 79 shares in the last quarter. West Oak Capital LLC lifted its holdings in shares of Biogen by 2,000.0% during the fourth quarter. West Oak Capital LLC now owns 945 shares of the biotechnology company's stock worth $145,000 after buying an additional 900 shares in the last quarter. Czech National Bank lifted its holdings in shares of Biogen by 6.5% during the fourth quarter. Czech National Bank now owns 31,595 shares of the biotechnology company's stock worth $4,832,000 after buying an additional 1,923 shares in the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of Biogen by 187.2% during the fourth quarter. Wedmont Private Capital now owns 3,670 shares of the biotechnology company's stock worth $546,000 after buying an additional 2,392 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on Biogen from $185.00 to $175.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Oppenheimer set a $205.00 target price on Biogen in a report on Friday, May 2nd. HC Wainwright dropped their price target on Biogen from $241.00 to $187.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Argus downgraded Biogen from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Robert W. Baird dropped their price target on Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Twenty analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Biogen currently has a consensus rating of "Hold" and an average target price of $191.30.

Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the 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 transaction, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This represents a 43.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by company insiders.

Biogen Trading Up 5.3%

BIIB stock traded up $6.23 during trading on Monday, hitting $124.40. The company had a trading volume of 2,554,527 shares, compared to its average volume of 1,373,732. The business has a 50-day moving average of $127.94 and a 200-day moving average of $143.71. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00. The stock has a market cap of $18.23 billion, a PE ratio of 11.12, a PEG ratio of 1.51 and a beta of 0.12. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the company earned $3.67 earnings per share. The business's revenue was up 6.2% on a year-over-year basis. Research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal 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.