Biogen Inc. (NASDAQ:BIIB) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 61.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 109,198 shares of the biotechnology company’s stock after selling 174,070 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Biogen were worth $23,485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in BIIB. Plato Investment Management Ltd increased its position in Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after buying an additional 53 shares during the period. Livelsberger Financial Advisory acquired a new position in Biogen during the fourth quarter worth approximately $26,000. Rise Advisors LLC acquired a new position in Biogen during the first quarter worth approximately $27,000. Hexagon Capital Partners LLC increased its position in Biogen by 76.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after buying an additional 51 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in Biogen during the first quarter worth approximately $36,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

Biogen stock traded down $5.04 during trading hours on Friday, hitting $205.66. The stock had a trading volume of 1,768,714 shares, compared to its average volume of 1,081,031. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.32. The stock has a market capitalization of $29.94 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 2.09 and a beta of -0.04. Biogen Inc. has a 1-year low of $189.44 and a 1-year high of $278.95. The stock’s fifty day moving average is $225.01 and its two-hundred day moving average is $222.97.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.00 by $1.28. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. Biogen’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.02 earnings per share. As a group, analysts predict that Biogen Inc. will post 15.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on BIIB. Truist Financial reaffirmed a “buy” rating and set a $340.00 price target on shares of Biogen in a research report on Thursday, May 16th. William Blair reissued an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Oppenheimer reissued an “outperform” rating and issued a $270.00 target price on shares of Biogen in a report on Monday, April 29th. Scotiabank dropped their target price on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a report on Friday. Finally, Wedbush dropped their target price on Biogen from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Friday. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $279.08.

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.