Biogen Inc. (NASDAQ:BIIB) Stake Lowered by Voya Investment Management LLC

Voya Investment Management LLC decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,581 shares of the biotechnology company's stock after selling 3,193 shares during the period. Voya Investment Management LLC owned approximately 0.05% of Biogen worth $11,864,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Pacer Advisors Inc. boosted its position in shares of Biogen by 13,574.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock worth $407,919,000 after buying an additional 2,648,024 shares in the last quarter. Norges Bank purchased a new stake in shares of Biogen in the fourth quarter valued at about $355,569,000. Van ECK Associates Corp grew its position in shares of Biogen by 977.9% in the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company's stock valued at $163,083,000 after purchasing an additional 967,523 shares during the last quarter. Invesco Ltd. increased its stake in shares of Biogen by 30.6% during the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock worth $325,537,000 after purchasing an additional 499,074 shares in the last quarter. Finally, FMR LLC raised its position in shares of Biogen by 98.7% during the 4th quarter. FMR LLC now owns 757,570 shares of the biotechnology company's stock worth $115,848,000 after purchasing an additional 376,356 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

Biogen Stock Up 2.2 %

Shares of NASDAQ:BIIB traded up $2.60 during trading on Friday, hitting $123.53. The company's stock had a trading volume of 1,460,036 shares, compared to its average volume of 1,355,394. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $238.00. The stock's 50-day moving average price is $130.58 and its two-hundred day moving average price is $147.04. 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 company has a market capitalization of $18.08 billion, a PE ratio of 11.04, a PEG ratio of 1.51 and a beta of 0.13.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). Biogen had a return on equity of 14.98% and a net margin of 16.87%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the firm posted $3.67 EPS. The firm's quarterly revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BIIB shares. William Blair restated an "outperform" rating on shares of Biogen in a research report on Monday, January 13th. Royal Bank of Canada lowered their price target on shares of Biogen from $217.00 to $205.00 and set an "outperform" rating for the company in a report on Friday. Sanford C. Bernstein assumed coverage on shares of Biogen in a research note on Tuesday, February 11th. They set a "market perform" rating and a $160.00 price objective on the stock. Canaccord Genuity Group lowered their target price on shares of Biogen from $265.00 to $220.00 and set a "buy" rating for the company in a research note on Friday. Finally, HC Wainwright reduced their price target on Biogen from $241.00 to $187.00 and set a "buy" rating on the stock in a research note on Friday. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Biogen currently has an average rating of "Hold" and an average price target of $195.85.

About Biogen

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.