BNP Paribas Asset Management Holding S.A. Lowers Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

BNP Paribas Asset Management Holding S.A. reduced its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 32.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 448,432 shares of the biotechnology company's stock after selling 212,114 shares during the period. BNP Paribas Asset Management Holding S.A. owned approximately 0.31% of Biogen worth $116,041,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Gladius Capital Management LP bought a new stake in shares of Biogen in the 3rd quarter valued at approximately $28,000. KB Financial Partners LLC boosted its stake in Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company's stock worth $31,000 after buying an additional 62 shares during the period. Hexagon Capital Partners LLC increased its position in Biogen by 76.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 51 shares during the last quarter. CVA Family Office LLC purchased a new stake in shares of Biogen in the fourth quarter valued at $36,000. Finally, Baker Avenue Asset Management LP lifted its holdings in shares of Biogen by 215.5% in the 3rd 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.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BIIB. Wedbush increased their price objective on shares of Biogen from $213.00 to $215.00 and gave the stock a "neutral" rating in a research report on Thursday, April 25th. UBS Group reduced their price target on Biogen from $250.00 to $214.00 and set a "neutral" rating on the stock in a report on Wednesday, April 17th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $364.00 price objective on shares of Biogen in a research report on Tuesday, March 5th. HSBC lifted their target price on Biogen from $339.00 to $342.00 and gave the stock a "buy" rating in a research report on Friday, May 3rd. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $311.00 price target on shares of Biogen in a report on Tuesday, February 20th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $288.46.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction dated Thursday, February 22nd. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

Biogen Price Performance

Shares of NASDAQ:BIIB traded up $1.01 during midday trading on Monday, reaching $231.58. 719,116 shares of the company's stock traded hands, compared to its average volume of 1,187,995. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $319.76. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10. The company has a fifty day simple moving average of $212.97 and a two-hundred day simple moving average of $230.11. The company has a market cap of $33.72 billion, a P/E ratio of 28.91, a PEG ratio of 2.34 and a beta of -0.01.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the business earned $3.40 EPS. Biogen's quarterly revenue was down 7.0% on a year-over-year basis. Equities analysts predict that Biogen Inc. will post 15.59 EPS 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.