Handelsbanken Fonder AB Has $14.89 Million Stake in Biogen Inc. (NASDAQ:BIIB)

Handelsbanken Fonder AB decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 24.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,533 shares of the biotechnology company’s stock after selling 18,231 shares during the quarter. Handelsbanken Fonder AB’s holdings in Biogen were worth $14,888,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BIIB. Wellington Management Group LLP boosted its holdings in Biogen by 0.5% in the third quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock valued at $1,381,251,000 after acquiring an additional 27,951 shares during the last quarter. Northern Trust Corp boosted its holdings in Biogen by 2.8% in the third quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock valued at $422,276,000 after acquiring an additional 45,437 shares during the last quarter. Morgan Stanley boosted its holdings in Biogen by 4.3% in the third quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock valued at $383,745,000 after acquiring an additional 61,814 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Biogen by 24.5% in the third quarter. Van ECK Associates Corp now owns 1,189,546 shares of the biotechnology company’s stock valued at $305,725,000 after acquiring an additional 233,889 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Biogen by 19.1% in the third quarter. Invesco Ltd. now owns 1,181,374 shares of the biotechnology company’s stock valued at $303,625,000 after acquiring an additional 189,368 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 262 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares in the company, valued at approximately $1,080,929.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Biogen news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares in the company, valued at approximately $1,080,929.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric K. Rowinsky bought 455 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 882 shares of company stock worth $202,030. 0.60% of the stock is owned by company insiders.

Biogen Stock Down 0.5 %

BIIB stock opened at $193.18 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. The company has a market capitalization of $28.08 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 1.85 and a beta of -0.02. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $319.76. The stock has a fifty day moving average of $213.55 and a 200-day moving average of $234.62.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing the consensus estimate of $3.18 by ($0.23). The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same quarter in the previous year, the company posted $4.05 EPS. As a group, equities research analysts predict that Biogen Inc. will post 15.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BIIB. BTIG Research restated a “neutral” rating on shares of Biogen in a report on Sunday, January 7th. Wells Fargo & Company cut Biogen from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $315.00 to $240.00 in a report on Wednesday, February 14th. Wedbush lowered their target price on Biogen from $245.00 to $213.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $364.00 target price on shares of Biogen in a research report on Tuesday, March 5th. Finally, Canaccord Genuity Group lowered their target price on Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.58.

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.