Caprock Group LLC Trims Position in Biogen Inc. (NASDAQ:BIIB)

Caprock Group LLC lowered its position in Biogen Inc. (NASDAQ:BIIB) by 35.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,007 shares of the biotechnology company’s stock after selling 1,111 shares during the quarter. Caprock Group LLC’s holdings in Biogen were worth $307,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its position in Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after buying an additional 248,942 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Biogen by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after acquiring an additional 47,055 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after purchasing an additional 2,648,024 shares during the period. RA Capital Management L.P. increased its holdings in Biogen by 20.6% in the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock valued at $229,595,000 after purchasing an additional 202,317 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Biogen by 1.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock valued at $223,438,000 after purchasing an additional 18,905 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Truist Financial cut their price target on shares of Biogen from $302.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Wolfe Research started coverage on shares of Biogen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Raymond James reaffirmed a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Finally, Bank of America reissued a “neutral” rating and issued a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. Sixteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Biogen has an average rating of “Hold” and an average price target of $228.80.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $142.37 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen Inc. has a 12 month low of $139.71 and a 12 month high of $246.44. The firm has a market capitalization of $20.75 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.66 and a beta of -0.08. The company’s fifty day moving average price is $149.88 and its 200 day moving average price is $176.96.

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.