Sanctuary Advisors LLC Decreases Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Sanctuary Advisors LLC reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 46.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,123 shares of the biotechnology company’s stock after selling 1,842 shares during the quarter. Sanctuary Advisors LLC’s holdings in Biogen were worth $310,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its position in Biogen by 27.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 274,708 shares of the biotechnology company’s stock valued at $53,249,000 after buying an additional 59,771 shares in the last quarter. National Pension Service increased its position in Biogen by 10.1% during the 3rd quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock valued at $69,699,000 after buying an additional 32,914 shares in the last quarter. Asset Management One Co. Ltd. increased its position in Biogen by 0.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 55,355 shares of the biotechnology company’s stock valued at $10,730,000 after buying an additional 324 shares in the last quarter. Quintet Private Bank Europe S.A. increased its position in Biogen by 9.7% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 63 shares in the last quarter. Finally, Impax Asset Management Group plc increased its position in Biogen by 40.5% during the 3rd quarter. Impax Asset Management Group plc now owns 38,810 shares of the biotechnology company’s stock valued at $7,523,000 after buying an additional 11,185 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BIIB. Truist Financial reduced their target price on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Piper Sandler reaffirmed a “neutral” rating and set a $135.00 target price (down from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Wolfe Research initiated coverage on Biogen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Canaccord Genuity Group cut their price objective on Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Morgan Stanley cut their price objective on Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Performance

Shares of BIIB stock opened at $142.65 on Wednesday. The company has a market capitalization of $20.88 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.51 and a beta of -0.08. The business’s 50 day moving average is $144.15 and its two-hundred day moving average is $167.42. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00.

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