Securian Asset Management Inc. Lowers Position in Biogen Inc. (NASDAQ:BIIB)

Securian Asset Management Inc. trimmed its stake in Biogen Inc. (NASDAQ:BIIB) by 3.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,696 shares of the biotechnology company’s stock after selling 300 shares during the quarter. Securian Asset Management Inc.’s holdings in Biogen were worth $1,177,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new stake in Biogen during the third quarter worth approximately $830,000. Ashton Thomas Securities LLC purchased a new stake in Biogen during the third quarter worth approximately $33,000. Venturi Wealth Management LLC grew its stake in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after buying an additional 93 shares during the period. GSA Capital Partners LLP grew its stake in Biogen by 44.6% during the third quarter. GSA Capital Partners LLP now owns 4,407 shares of the biotechnology company’s stock worth $854,000 after buying an additional 1,359 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Biogen by 2.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 370,128 shares of the biotechnology company’s stock worth $71,746,000 after buying an additional 9,254 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Down 0.4 %

Shares of NASDAQ:BIIB opened at $139.44 on Friday. The stock has a market capitalization of $20.41 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00. The company’s fifty day moving average is $143.09 and its two-hundred day moving average is $164.57. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Insider Buying and Selling

In related news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BIIB shares. Bank Of America (Bofa) decreased their price objective on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Piper Sandler reiterated a “neutral” rating and set a $135.00 price objective (down from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. HC Wainwright decreased their target price on shares of Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. StockNews.com downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Finally, Scotiabank decreased their target price on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $213.33.

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.