Biogen Inc. (NASDAQ:BIIB) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lowered its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 19,763 shares of the biotechnology company's stock after selling 3,266 shares during the quarter. Janus Henderson Group PLC's holdings in Biogen were worth $3,022,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Larson Financial Group LLC lifted its position in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 141 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Biogen during the fourth quarter worth about $25,000. Colonial Trust Co SC lifted its holdings in shares of Biogen by 9,300.0% in the 4th 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 during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Biogen in the 4th quarter valued at about $32,000. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of Biogen in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BIIB shares. HSBC downgraded Biogen from a "buy" rating to a "hold" rating and set a $118.00 price objective for the company. in a report on Monday, April 28th. Citigroup reduced their price target on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a research report on Friday, May 2nd. Mizuho dropped their price objective on shares of Biogen from $207.00 to $169.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada decreased their target price on shares of Biogen from $217.00 to $205.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $191.30.

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of the 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 sale, the director now directly owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. This represents a 43.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.16% of the company's stock.

Biogen Price Performance

BIIB traded down $0.49 on Friday, hitting $125.81. 837,351 shares of the company were exchanged, compared to its average volume of 1,391,772. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $238.00. 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 $18.43 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12. The business's fifty day moving average is $124.95 and its 200 day moving average is $141.27.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing analysts' consensus estimates 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 return on equity of 14.98% and a net margin of 16.87%. The business's revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.67 EPS. As a group, sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current 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.