Horizon Investments LLC Sells 397 Shares of Biogen Inc. (NASDAQ:BIIB)

Horizon Investments LLC lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 16.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,041 shares of the biotechnology company’s stock after selling 397 shares during the quarter. Horizon Investments LLC’s holdings in Biogen were worth $312,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp grew its holdings in Biogen by 3.5% during the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after buying an additional 248,942 shares in the last quarter. Geode Capital Management LLC grew its holdings in Biogen by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after buying an additional 47,055 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after buying an additional 2,648,024 shares in the last quarter. Amundi grew its holdings in Biogen by 35.6% during the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after buying an additional 319,478 shares in the last quarter. Finally, RA Capital Management L.P. grew its holdings in Biogen by 20.6% during the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after buying an additional 202,317 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was 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 $1,697,926.36. This trade represents a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Morgan Stanley decreased their price target on Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Mizuho reduced their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Bank of America restated a “neutral” rating and issued a $178.00 price objective on shares of Biogen in a research note on Tuesday, December 10th. Stifel Nicolaus downgraded Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a research note on Monday, December 16th. Finally, Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and reduced their price objective for the company from $250.00 to $180.00 in a research note on Monday, December 9th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Biogen presently has a consensus rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Performance

Shares of BIIB opened at $141.38 on Friday. The stock’s 50-day simple moving average is $142.32 and its 200 day simple moving average is $162.85. The stock has a market capitalization of $20.69 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.