Swedbank AB Sells 963 Shares of Biogen Inc. (NASDAQ:BIIB)

Swedbank AB lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 184,045 shares of the biotechnology company’s stock after selling 963 shares during the quarter. Swedbank AB owned approximately 0.13% of Biogen worth $28,144,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of Biogen during the 3rd quarter valued at approximately $33,000. Venturi Wealth Management LLC grew its holdings in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares during the period. Itau Unibanco Holding S.A. increased its position in Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after buying an additional 90 shares during the last quarter. Versant Capital Management Inc increased its position in Biogen by 228.7% in the fourth quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock worth $61,000 after buying an additional 279 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Biogen in the third quarter valued at $74,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

BIIB has been the subject of several recent research reports. Mizuho decreased their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Needham & Company LLC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target on the stock. in a research report on Monday, November 18th. JPMorgan Chase & Co. reduced their price objective on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Oppenheimer cut their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Wells Fargo & Company decreased their price objective on Biogen from $190.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, January 10th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $228.80.

Biogen Stock Performance

NASDAQ:BIIB opened at $146.23 on Friday. The company has a market capitalization of $21.31 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.64 and a beta of -0.07. The business has a 50 day moving average of $151.32 and a 200 day moving average of $179.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen Inc. has a 1-year low of $139.71 and a 1-year high of $251.99.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the business posted $4.36 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts predict that Biogen Inc. will post 16.41 earnings per share 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.