Biogen Inc. (NASDAQ:BIIB) Shares Sold by Choreo LLC

Choreo LLC reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 23.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,360 shares of the biotechnology company’s stock after selling 422 shares during the quarter. Choreo LLC’s holdings in Biogen were worth $205,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in Biogen by 11.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,553 shares of the biotechnology company’s stock worth $7,191,000 after buying an additional 4,848 shares during the last quarter. Win Advisors Inc. bought a new position in shares of Biogen in the fourth quarter worth $1,022,000. Retirement Systems of Alabama grew its stake in shares of Biogen by 491.9% in the fourth quarter. Retirement Systems of Alabama now owns 185,383 shares of the biotechnology company’s stock worth $28,349,000 after purchasing an additional 154,062 shares in the last quarter. Old North State Wealth Management LLC grew its stake in shares of Biogen by 14.3% in the fourth quarter. Old North State Wealth Management LLC now owns 15,467 shares of the biotechnology company’s stock worth $2,365,000 after purchasing an additional 1,934 shares in the last quarter. Finally, ARGA Investment Management LP lifted its holdings in shares of Biogen by 34.7% in the fourth quarter. ARGA Investment Management LP now owns 3,532 shares of the biotechnology company’s stock valued at $540,000 after buying an additional 910 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BIIB shares. Wolfe Research started coverage on Biogen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Citigroup reduced their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday. Wells Fargo & Company reduced their target price on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday. Stifel Nicolaus downgraded Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a research note on Monday, December 16th. Finally, Robert W. Baird increased their price objective on Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $211.96.

Biogen Price Performance

Shares of BIIB stock opened at $137.33 on Friday. The stock has a 50 day moving average of $146.90 and a two-hundred day moving average of $173.26. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00. The company has a market capitalization of $20.01 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.65 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. As a group, equities analysts expect that Biogen Inc. will post 16.42 EPS for the current year.

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.