Biogen Inc. (NASDAQ:BIIB) Stock Holdings Decreased by Wellington Management Group LLP

Wellington Management Group LLP reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,930,723 shares of the biotechnology company’s stock after selling 200,470 shares during the period. Wellington Management Group LLP owned about 3.37% of Biogen worth $754,006,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. California Public Employees Retirement System raised its stake in shares of Biogen by 0.7% in the 4th quarter. California Public Employees Retirement System now owns 397,849 shares of the biotechnology company’s stock worth $60,839,000 after buying an additional 2,778 shares in the last quarter. Allianz SE purchased a new stake in Biogen in the 4th quarter worth approximately $219,000. Cornercap Investment Counsel Inc. boosted its stake in shares of Biogen by 16.6% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 8,239 shares of the biotechnology company’s stock valued at $1,260,000 after buying an additional 1,174 shares during the period. Allstate Corp purchased a new stake in shares of Biogen during the fourth quarter worth $657,000. Finally, Orion Portfolio Solutions LLC grew its stake in Biogen by 12.4% in the fourth quarter. Orion Portfolio Solutions LLC now owns 6,846 shares of the biotechnology company’s stock valued at $1,047,000 after purchasing an additional 754 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BIIB has been the topic of several recent research reports. Piper Sandler restated a “neutral” rating and set a $135.00 target price (down from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Truist Financial decreased their price objective on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 13th. HC Wainwright dropped their price objective on Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Scotiabank cut their price objective on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 13th. Finally, Wells Fargo & Company decreased their price objective on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $213.33.

Biogen Stock Performance

Shares of BIIB stock opened at $136.84 on Tuesday. The company’s 50-day moving average is $141.81 and its 200 day moving average is $159.27. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The company has a market capitalization of $20.03 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data 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 16.87%. Sell-side analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.

Biogen 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.