Biogen Inc. (NASDAQ:BIIB) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lowered its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,669 shares of the biotechnology company's stock after selling 2,442 shares during the quarter. Ensign Peak Advisors Inc's holdings in Biogen were worth $3,314,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in Biogen by 640.9% in the fourth 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 last quarter. Lee Danner & Bass Inc. purchased a new position in Biogen in the fourth quarter worth approximately $25,000. Colonial Trust Co SC lifted its stake in Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 186 shares during the last quarter. OFI Invest Asset Management purchased a new position in Biogen in the fourth quarter worth approximately $32,000. Finally, SRS Capital Advisors Inc. purchased a new position in Biogen in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Stock Performance

BIIB traded up $1.89 during trading on Friday, hitting $125.59. The stock had a trading volume of 1,803,229 shares, compared to its average volume of 1,382,639. 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 firm has a market capitalization of $18.40 billion, a P/E ratio of 11.22, a PEG ratio of 1.51 and a beta of 0.12. The company's 50-day moving average price is $125.96 and its 200 day moving average price is $142.31. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. Biogen had a net margin of 16.87% and a return on equity of 14.98%. The business's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.67 earnings per share. On average, equities research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction on Friday, March 7th. The shares were 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 of the company's stock, valued at $1,697,926.36. This represents a 43.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Mizuho reduced their price objective on shares of Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Royal Bank of Canada reduced their price objective on shares of Biogen from $217.00 to $205.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. HSBC downgraded shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 price objective for the company. in a research report on Monday, April 28th. Piper Sandler reduced their price objective on shares of Biogen from $135.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Finally, BMO Capital Markets reduced their price objective on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating for the company in a research report on Thursday, February 13th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $191.30.

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.