Erste Asset Management GmbH Cuts Stock Position in Biogen Inc. (NASDAQ:BIIB)

Erste Asset Management GmbH trimmed its holdings in Biogen Inc. (NASDAQ:BIIB) by 79.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,316 shares of the biotechnology company’s stock after selling 228,307 shares during the period. Erste Asset Management GmbH’s holdings in Biogen were worth $8,975,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Inspire Trust Co. N.A. lifted its holdings in Biogen by 58.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after purchasing an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Biogen by 0.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after buying an additional 111 shares during the last quarter. Centre Asset Management LLC lifted its holdings in shares of Biogen by 7.7% in the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after buying an additional 3,698 shares in the last quarter. Amundi lifted its holdings in shares of Biogen by 35.6% in the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after buying an additional 319,478 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Biogen by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after acquiring an additional 12,319 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 0.1 %

Shares of BIIB opened at $139.98 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The firm has a market capitalization of $20.49 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.51 and a beta of 0.01. The company has a 50-day moving average of $143.35 and a 200 day moving average of $165.02. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, research analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

Insider Buying and Selling at Biogen

In other Biogen 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 transaction of $1,314,175.20. Following the transaction, the director now directly owns 11,318 shares in the company, valued at $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 the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BIIB has been the topic of several research analyst reports. Wolfe Research assumed coverage on shares of Biogen in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Wells Fargo & Company decreased their target price on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. HC Wainwright cut their price target on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Citigroup decreased their price objective on Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, Bank Of America (Bofa) cut their target price on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Biogen currently has an average rating of “Hold” and a consensus price target of $213.33.

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.