Sector Gamma AS Sells 6,166 Shares of Biogen Inc. (NASDAQ:BIIB)

Sector Gamma AS cut its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 17.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,000 shares of the biotechnology company’s stock after selling 6,166 shares during the quarter. Biogen makes up about 1.5% of Sector Gamma AS’s portfolio, making the stock its 22nd largest position. Sector Gamma AS’s holdings in Biogen were worth $4,435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Inspire Trust Co. N.A. raised its holdings in Biogen by 58.5% during the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after buying an additional 4,025 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Biogen by 0.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after purchasing an additional 111 shares during the last quarter. Centre Asset Management LLC raised its holdings in shares of Biogen by 7.7% in the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after purchasing an additional 3,698 shares during the last quarter. Amundi raised its holdings in shares of Biogen by 35.6% in the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after purchasing an additional 319,478 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Biogen by 1.4% in the third 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 during the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Stock Down 0.0 %

Shares of BIIB opened at $141.38 on Friday. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00. The company has a market cap of $20.69 billion, a PE ratio of 12.63, a P/E/G ratio of 1.51 and a beta of 0.01. The business has a fifty day moving average of $142.32 and a 200 day moving average of $162.85. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping 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%. On average, sell-side analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analyst Weigh In

BIIB has been the subject of several research reports. Bank of America restated a “neutral” rating and set a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. HC Wainwright reduced their price target on shares of Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Sanford C. Bernstein initiated coverage on shares of Biogen in a research report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price target for the company. Finally, Mizuho reduced their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Biogen currently has an average rating of “Hold” and a consensus price target of $213.33.

Insider Transactions at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.

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.