Biogen Inc. (NASDAQ:BIIB) Stock Position Lowered by Groupama Asset Managment

Groupama Asset Managment trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB) by 51.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,872 shares of the biotechnology company’s stock after selling 10,650 shares during the period. Groupama Asset Managment’s holdings in Biogen were worth $1,483,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BIIB. Larson Financial Group LLC raised its position in Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 141 shares during the period. Lee Danner & Bass Inc. purchased a new position in Biogen during the 4th quarter valued at about $25,000. OFI Invest Asset Management acquired a new position in shares of Biogen in the 4th quarter valued at about $32,000. SRS Capital Advisors Inc. purchased a new stake in shares of Biogen in the fourth quarter worth approximately $33,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Biogen during the fourth quarter worth approximately $41,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of NASDAQ BIIB opened at $131.32 on Thursday. The firm has a market capitalization of $19.22 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.51 and a beta of 0.01. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The business has a fifty day simple moving average of $141.40 and a 200 day simple moving average of $158.63. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Sell-side analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research note on Thursday, February 13th. Citigroup lowered their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and cut their price target for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. Wells Fargo & Company dropped their price objective on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $135.00 price objective (down previously from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $213.33.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.