Impax Asset Management Group plc Cuts Stake in Biogen Inc. (NASDAQ:BIIB)

Impax Asset Management Group plc decreased its holdings in Biogen Inc. (NASDAQ:BIIB) by 5.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,730 shares of the biotechnology company’s stock after selling 2,080 shares during the period. Impax Asset Management Group plc’s holdings in Biogen were worth $5,617,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in BIIB. Ashton Thomas Securities LLC purchased a new stake in shares of Biogen in the 3rd quarter valued at $33,000. Golden State Wealth Management LLC purchased a new stake in Biogen during the 4th quarter valued at $41,000. Venturi Wealth Management LLC boosted its position in Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 93 shares during the period. Itau Unibanco Holding S.A. boosted its position in Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 90 shares during the period. Finally, Quent Capital LLC boosted its position in Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 72 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the subject of several analyst reports. Bank Of America (Bofa) dropped their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and dropped their price target for the company from $250.00 to $180.00 in a research report on Monday, December 9th. Citigroup dropped their price target on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Truist Financial dropped their price target on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Up 0.4 %

Shares of Biogen stock opened at $141.27 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The company has a 50-day moving average of $144.97 and a 200 day moving average of $169.97. The firm has a market cap of $20.68 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.51 and a beta of -0.08. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, sell-side analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

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.