MetLife Investment Advisors LLC Cuts Stake in Biogen Inc (BIIB)
MetLife Investment Advisors LLC lessened its holdings in Biogen Inc (NASDAQ:BIIB) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,621 shares of the biotechnology company’s stock after selling 980 shares during the period. MetLife Investment Advisors LLC’s holdings in Biogen were worth $17,339,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Nuveen Asset Management LLC raised its stake in shares of Biogen by 81.9% in the 4th quarter. Nuveen Asset Management LLC now owns 136,523 shares of the biotechnology company’s stock valued at $41,083,000 after acquiring an additional 61,473 shares during the period. Candriam Luxembourg S.C.A. increased its stake in Biogen by 12.2% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 569,741 shares of the biotechnology company’s stock worth $171,439,000 after buying an additional 61,805 shares during the period. MML Investors Services LLC increased its stake in Biogen by 15.9% during the 4th quarter. MML Investors Services LLC now owns 7,690 shares of the biotechnology company’s stock worth $2,314,000 after buying an additional 1,054 shares during the period. Suntrust Banks Inc. increased its stake in Biogen by 32.3% during the 4th quarter. Suntrust Banks Inc. now owns 36,182 shares of the biotechnology company’s stock worth $10,888,000 after buying an additional 8,830 shares during the period. Finally, Intellectus Partners LLC increased its stake in Biogen by 3.8% during the 4th quarter. Intellectus Partners LLC now owns 1,266 shares of the biotechnology company’s stock worth $381,000 after buying an additional 46 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on BIIB. Oppenheimer dropped their price target on shares of Biogen from $380.00 to $372.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 18th. ValuEngine downgraded shares of Biogen from a “hold” rating to a “sell” rating in a research note on Wednesday, December 19th. BidaskClub downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 9th. BTIG Research began coverage on shares of Biogen in a research note on Thursday, December 20th. They set a “buy” rating and a $362.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $400.00 price target on shares of Biogen in a research note on Wednesday, December 12th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $370.28.
NASDAQ BIIB opened at $327.17 on Tuesday. Biogen Inc has a one year low of $249.17 and a one year high of $388.67. The company has a quick ratio of 2.04, a current ratio of 2.32 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $64.06 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.09.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, January 29th. The biotechnology company reported $6.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.72 by $0.27. Biogen had a net margin of 32.94% and a return on equity of 40.53%. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period in the previous year, the business posted $5.26 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Equities analysts forecast that Biogen Inc will post 28.68 EPS for the current year.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
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