Biogen Inc. (NASDAQ:BIIB) Shares Sold by Kennedy Investment Group

Kennedy Investment Group decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,921 shares of the biotechnology company’s stock after selling 172 shares during the quarter. Kennedy Investment Group’s holdings in Biogen were worth $294,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its holdings in Biogen by 3.5% in the third 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 period. Geode Capital Management LLC lifted its holdings in Biogen by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock valued at $698,062,000 after acquiring an additional 47,055 shares during the period. Pacer Advisors Inc. lifted its holdings in Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after acquiring an additional 2,648,024 shares during the period. RA Capital Management L.P. lifted its holdings in Biogen by 20.6% in the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock valued at $229,595,000 after acquiring an additional 202,317 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Biogen by 1.7% in the third 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 acquiring an additional 18,905 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

BIIB stock opened at $145.49 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The firm has a market capitalization of $21.20 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.64 and a beta of -0.07. The business’s 50-day moving average is $151.75 and its two-hundred day moving average is $180.64. Biogen Inc. has a 1 year low of $139.71 and a 1 year high of $251.99.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) 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 analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen’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 EPS. Analysts anticipate that Biogen Inc. will post 16.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BIIB shares. Morgan Stanley downgraded Biogen from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $285.00 to $204.00 in a research note on Thursday, October 31st. Oppenheimer reduced their target price on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Raymond James reaffirmed a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. HC Wainwright reaffirmed a “buy” rating and set a $300.00 target price on shares of Biogen in a research note on Thursday, October 31st. Finally, Barclays dropped their price target on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $228.80.

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.