Biogen Inc. (NASDAQ:BIIB) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. lowered its holdings in Biogen Inc. (NASDAQ:BIIB) by 46.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,613 shares of the biotechnology company’s stock after selling 21,854 shares during the period. Grimes & Company Inc.’s holdings in Biogen were worth $3,917,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BIIB. State Street Corp boosted its stake in 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 acquiring an additional 248,942 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 period. RA Capital Management L.P. increased its stake in 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Truist Financial reduced their price objective on shares of Biogen from $302.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price target on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Robert W. Baird raised their price target on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. UBS Group decreased their price target on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Finally, Needham & Company LLC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 price objective on the stock. in a research report on Monday, November 18th. Sixteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Biogen presently has a consensus rating of “Hold” and an average target price of $230.00.

Biogen Stock Up 1.8 %

BIIB stock opened at $146.20 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The company has a market capitalization of $21.30 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.64 and a beta of -0.07. Biogen Inc. has a fifty-two week low of $139.71 and a fifty-two week high of $251.99. The stock has a fifty day moving average of $151.93 and a 200-day moving average of $181.95.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.36 EPS. As a group, equities research analysts predict that Biogen Inc. will post 16.41 earnings per share for the current 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.