Biogen Inc. (NASDAQ:BIIB) Holdings Reduced by Horizon Bancorp Inc. IN

Horizon Bancorp Inc. IN lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 15.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 461 shares of the biotechnology company’s stock after selling 85 shares during the period. Horizon Bancorp Inc. IN’s holdings in Biogen were worth $70,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC grew its stake in shares of Biogen by 201.9% in the second quarter. Acadian Asset Management LLC now owns 5,702 shares of the biotechnology company’s stock worth $1,320,000 after purchasing an additional 3,813 shares in the last quarter. Choreo LLC acquired a new position in Biogen during the 2nd quarter valued at about $297,000. Parallel Advisors LLC raised its position in shares of Biogen by 8.5% during the 2nd quarter. Parallel Advisors LLC now owns 1,982 shares of the biotechnology company’s stock worth $459,000 after buying an additional 156 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new stake in shares of Biogen in the 2nd quarter worth approximately $239,000. Finally, Moors & Cabot Inc. boosted its holdings in shares of Biogen by 11.3% in the second quarter. Moors & Cabot Inc. now owns 1,130 shares of the biotechnology company’s stock valued at $262,000 after acquiring an additional 115 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on BIIB. Stifel Nicolaus downgraded Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a research report on Monday, December 16th. Wolfe Research began coverage on Biogen in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and dropped their price target for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Wedbush reduced their price objective on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Biogen from $190.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday. Sixteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $230.00.

Biogen Stock Up 0.9 %

Shares of BIIB stock opened at $150.18 on Tuesday. The stock’s 50 day simple moving average is $156.92 and its 200 day simple moving average is $186.74. Biogen Inc. has a twelve month low of $145.07 and a twelve month high of $252.17. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The company has a market capitalization of $21.88 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 1.74 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. Biogen’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $4.36 earnings per share. As a group, research analysts predict that Biogen Inc. will post 16.43 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.