J. Safra Sarasin Holding AG Sells 52,864 Shares of Biogen Inc. (NASDAQ:BIIB)

Key Points

• J. Safra Sarasin Holding AG has significantly reduced its stake in Biogen Inc. by selling 52,864 shares, resulting in an 84.1% decrease in ownership to 10,009 shares worth approximately $1.37 million.
• Multiple large investors have recently altered their positions in Biogen, with institutional ownership now at 87.93% of the company's stock.
• Recent analyst ratings indicate caution, with HSBC downgrading Biogen from "buy" to "hold" and various target prices adjusted, suggesting a consensus rating of "hold" for the stock.

J. Safra Sarasin Holding AG decreased its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 84.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,009 shares of the biotechnology company's stock after selling 52,864 shares during the period. J. Safra Sarasin Holding AG's holdings in Biogen were worth $1,370,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BIIB. Opal Wealth Advisors LLC bought a new position in Biogen in the first quarter valued at $26,000. Colonial Trust Co SC grew its position in Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 186 shares in the last quarter. Private Trust Co. NA grew its position in Biogen by 74.8% in the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 98 shares in the last quarter. CVA Family Office LLC grew its position in Biogen by 71.1% in the first quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 96 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in Biogen in the first quarter valued at $35,000. Institutional investors own 87.93% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on BIIB. HSBC downgraded shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 target price for the company. in a research report on Monday, April 28th. The Goldman Sachs Group cut their price target on shares of Biogen from $219.00 to $197.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Truist Financial initiated coverage on shares of Biogen in a research note on Monday, July 21st. They issued a "hold" rating and a $142.00 price target for the company. Citigroup increased their price target on shares of Biogen from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Hsbc Global Res cut shares of Biogen from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Twenty-one investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $185.63.

Biogen Price Performance

Shares of Biogen stock opened at $131.95 on Monday. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $213.50. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The company has a 50-day simple moving average of $129.84 and a two-hundred day simple moving average of $131.69. The stock has a market capitalization of $19.35 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.78 and a beta of 0.13.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, topping the consensus estimate of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The business had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.32 billion. During the same quarter in the previous year, the company earned $5.28 EPS. The business's revenue was up 7.3% on a year-over-year basis. Analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

Insider Activity at Biogen

In other news, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total value of $300,105.00. Following the completion of the transaction, the insider directly owned 6,330 shares in the company, valued at approximately $854,550. The trade was a 25.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company's stock.

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.

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