Handelsbanken Fonder AB Has $14.89 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Handelsbanken Fonder AB reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 24.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,533 shares of the biotechnology company's stock after selling 18,231 shares during the quarter. Handelsbanken Fonder AB's holdings in Biogen were worth $14,888,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. OFI Invest Asset Management acquired a new stake in shares of Biogen in the third quarter valued at approximately $26,000. Gladius Capital Management LP acquired a new stake in shares of Biogen in the third quarter valued at approximately $28,000. KB Financial Partners LLC grew its position in shares of Biogen by 105.1% in the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 62 shares during the last quarter. CVA Family Office LLC acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $36,000. Finally, Baker Avenue Asset Management LP boosted its position in Biogen by 215.5% during the third quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company's stock worth $47,000 after acquiring an additional 125 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Eric K. Rowinsky acquired 455 shares of the firm's stock in a transaction on Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Eric K. Rowinsky acquired 455 shares of the firm's stock in a transaction on Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Priya Singhal sold 262 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the transaction, the insider now directly owns 4,886 shares of the company's stock, valued at $1,080,929.78. The disclosure for this sale can be found here. Insiders sold a total of 882 shares of company stock valued at $202,030 in the last ninety days. Corporate insiders own 0.60% of the company's stock.

Biogen Stock Up 4.6 %

BIIB traded up $8.81 during trading hours on Wednesday, reaching $201.99. 3,264,689 shares of the stock traded hands, compared to its average volume of 1,191,884. The firm's fifty day simple moving average is $213.18 and its two-hundred day simple moving average is $234.39. The company has a market cap of $29.36 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.85 and a beta of -0.02. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $319.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing analysts' consensus estimates of $3.18 by ($0.23). The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same period in the previous year, the business posted $4.05 earnings per share. As a group, analysts forecast that Biogen Inc. will post 15.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of analyst reports. Robert W. Baird decreased their target price on shares of Biogen from $333.00 to $316.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 14th. UBS Group decreased their target price on shares of Biogen from $250.00 to $214.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 17th. Needham & Company LLC restated a "buy" rating and set a $294.00 target price on shares of Biogen in a research report on Wednesday. StockNews.com lowered shares of Biogen from a "buy" rating to a "hold" rating in a research report on Tuesday, February 20th. Finally, William Blair restated an "outperform" rating on shares of Biogen in a research report on Monday, April 1st. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $295.35.

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.