BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Stake in Biogen Inc. (NASDAQ:BIIB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of Biogen Inc. (NASDAQ:BIIBGet Rating) by 5.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 26,269 shares of the biotechnology company’s stock after selling 1,596 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Biogen were worth $6,302,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Avondale Wealth Management purchased a new stake in shares of Biogen during the 4th quarter worth about $26,000. Equitec Proprietary Markets LLC purchased a new position in Biogen in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC purchased a new position in Biogen in the 4th quarter worth approximately $27,000. Amplius Wealth Advisors LLC purchased a new position in Biogen in the 4th quarter worth approximately $28,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Biogen in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 83.92% of the company’s stock.

A number of research firms have weighed in on BIIB. Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and decreased their price target for the stock from $304.00 to $223.00 in a report on Tuesday, March 8th. Cowen cut their target price on Biogen from $375.00 to $285.00 and set an “outperform” rating on the stock in a research report on Friday, February 4th. Morgan Stanley cut their target price on Biogen from $330.00 to $283.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 12th. Wells Fargo & Company raised Biogen from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $235.00 to $265.00 in a research report on Monday, April 18th. Finally, Canaccord Genuity Group cut their target price on Biogen from $335.00 to $305.00 and set a “buy” rating on the stock in a research report on Monday, February 7th. Seventeen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $284.47.

Shares of BIIB stock opened at $202.54 on Wednesday. The stock has a 50-day simple moving average of $207.06 and a 200 day simple moving average of $221.94. Biogen Inc. has a fifty-two week low of $187.16 and a fifty-two week high of $468.55. The stock has a market capitalization of $29.66 billion, a P/E ratio of 20.73, a P/E/G ratio of 1.20 and a beta of 0.42. The company has a quick ratio of 1.70, a current ratio of 2.01 and a debt-to-equity ratio of 0.56.

Biogen (NASDAQ:BIIBGet Rating) last announced its earnings results on Tuesday, May 3rd. The biotechnology company reported $3.62 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.79). Biogen had a net margin of 13.40% and a return on equity of 23.46%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the business earned $5.34 EPS. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Biogen Inc. will post 15.45 earnings per share for the current year.

Biogen Profile (Get Rating)

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

See Also

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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