Dohj LLC Cuts Holdings in Biogen Inc. (NASDAQ:BIIB)

Dohj LLC lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 7.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 8,753 shares of the biotechnology company’s stock after selling 737 shares during the quarter. Dohj LLC’s holdings in Biogen were worth $1,338,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in BIIB. Pacer Advisors Inc. grew its stake in shares of Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after purchasing an additional 2,648,024 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Biogen by 19,722.9% in the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after buying an additional 357,181 shares during the last quarter. Mizuho Securities USA LLC grew its position in Biogen by 2,715.9% during the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after buying an additional 304,778 shares during the period. Erste Asset Management GmbH purchased a new stake in Biogen during the third quarter valued at approximately $55,826,000. Finally, State Street Corp raised its position in Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after acquiring an additional 248,942 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. TD Cowen cut their price objective on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Oppenheimer cut their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. HC Wainwright reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Biogen in a research note on Thursday, October 31st. Wells Fargo & Company cut their price objective on Biogen from $190.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Finally, Barclays decreased their target price on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Sixteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Biogen presently has an average rating of “Hold” and a consensus target price of $228.80.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $143.93 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $20.97 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.66 and a beta of -0.07. The firm has a 50 day moving average of $150.79 and a 200 day moving average of $179.03. Biogen Inc. has a 52 week low of $139.71 and a 52 week high of $251.99.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.36 earnings per share. On average, sell-side analysts predict that Biogen Inc. will post 16.43 earnings per share 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.