Biogen Inc. (NASDAQ:BIIB) Position Trimmed by Metis Global Partners LLC

Metis Global Partners LLC trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB) by 16.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,995 shares of the biotechnology company’s stock after selling 1,379 shares during the quarter. Metis Global Partners LLC’s holdings in Biogen were worth $1,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. State Street Corp lifted its holdings in shares of Biogen by 3.5% during the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after buying an additional 248,942 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Biogen by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock valued at $698,062,000 after buying an additional 47,055 shares during the last quarter. Pacer Advisors Inc. lifted its holdings 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 buying an additional 2,648,024 shares during the last quarter. RA Capital Management L.P. lifted its holdings in shares of Biogen by 20.6% during the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock valued at $229,595,000 after buying an additional 202,317 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Biogen by 1.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock valued at $223,438,000 after buying an additional 18,905 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wolfe Research assumed coverage on Biogen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Citigroup reduced their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. William Blair restated an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Truist Financial reduced their target price on Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Wells Fargo & Company reduced their target price on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $141.71 on Tuesday. The business’s fifty day moving average price is $144.28 and its two-hundred day moving average price is $167.83. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. The stock has a market capitalization of $20.74 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.51 and a beta of -0.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

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

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.