Fisher Asset Management LLC Sells 50,021 Shares of Biogen Inc. (NASDAQ:BIIB)

Fisher Asset Management LLC lowered its position in Biogen Inc. (NASDAQ:BIIB) by 44.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,778 shares of the biotechnology company’s stock after selling 50,021 shares during the period. Fisher Asset Management LLC’s holdings in Biogen were worth $16,504,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Gladius Capital Management LP bought a new stake in shares of Biogen in the 3rd quarter valued at $28,000. Hexagon Capital Partners LLC increased its position in shares of Biogen by 76.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 51 shares in the last quarter. KB Financial Partners LLC increased its position in shares of Biogen by 105.1% in the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 62 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of Biogen in the 4th quarter valued at $36,000. Finally, Baker Avenue Asset Management LP increased its holdings in Biogen by 215.5% during the 3rd quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 1.2 %

Shares of NASDAQ:BIIB opened at $223.65 on Wednesday. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $298.73. The company has a market capitalization of $32.56 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 2.33 and a beta of -0.02. The company has a 50-day simple moving average of $217.51 and a 200 day simple moving average of $229.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.22. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. Biogen’s revenue was down 7.0% on a year-over-year basis. During the same period last year, the business posted $3.40 EPS. Sell-side analysts forecast that Biogen Inc. will post 15.63 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on BIIB. UBS Group lowered their target price on Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. HC Wainwright reiterated a “buy” rating and set a $300.00 target price on shares of Biogen in a report on Thursday, May 23rd. Wedbush increased their target price on Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $317.00 target price on shares of Biogen in a report on Wednesday, June 5th. Finally, Mizuho lowered their target price on Biogen from $355.00 to $277.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $286.50.

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.