LSV Asset Management Sells 227,622 Shares of Biogen Inc. (NASDAQ:BIIB)

LSV Asset Management decreased its stake in Biogen Inc. (NASDAQ:BIIB) by 66.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,030 shares of the biotechnology company’s stock after selling 227,622 shares during the period. LSV Asset Management owned about 0.08% of Biogen worth $30,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. lifted its position in Biogen by 1.1% during the third quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock valued at $1,036,000 after purchasing an additional 42 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Biogen by 2.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock valued at $525,000 after buying an additional 45 shares in the last quarter. PAX Financial Group LLC grew its holdings in Biogen by 2.9% during the 3rd quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock valued at $405,000 after buying an additional 45 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in Biogen by 2.4% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock valued at $502,000 after buying an additional 45 shares in the last quarter. Finally, Quent Capital LLC lifted its position in Biogen by 17.0% in the fourth quarter. Quent Capital LLC now owns 337 shares of the biotechnology company’s stock worth $87,000 after buying an additional 49 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Up 0.9 %

Shares of Biogen stock opened at $219.55 on Monday. The company has a fifty day moving average price of $212.00 and a 200 day moving average price of $231.62. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $319.76. The stock has a market cap of $31.97 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 2.21 and a beta of -0.01.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.40 EPS. Equities research analysts forecast that Biogen Inc. will post 15.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BIIB has been the subject of a number of research reports. Canaccord Genuity Group lowered their price objective on shares of Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $311.00 price objective on shares of Biogen in a research report on Tuesday, February 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $364.00 price objective on shares of Biogen in a research report on Tuesday, March 5th. StockNews.com cut Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Finally, Barclays lowered their price objective on Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.92.

Insider Activity

In related news, insider Priya Singhal sold 419 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the sale, the insider now owns 4,516 shares in the company, valued at $1,081,356.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Priya Singhal sold 419 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares in the company, valued at approximately $1,081,356.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eric K. Rowinsky bought 455 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the transaction, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 882 shares of company stock worth $202,030. 0.60% of the stock is currently owned by corporate insiders.

Biogen 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.