Natixis Has $4.34 Million Stock Position in Biogen Inc. (NASDAQ:BIIB)

Natixis lessened its position in shares of Biogen Inc. (NASDAQ:BIIB) by 75.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,392 shares of the biotechnology company’s stock after selling 88,057 shares during the quarter. Natixis’ holdings in Biogen were worth $4,342,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norinchukin Bank The boosted its stake in Biogen by 9.7% during the fourth quarter. Norinchukin Bank The now owns 8,032 shares of the biotechnology company’s stock worth $1,228,000 after buying an additional 711 shares in the last quarter. Ossiam lifted its holdings in shares of Biogen by 5.6% during the 4th quarter. Ossiam now owns 50,363 shares of the biotechnology company’s stock worth $7,702,000 after acquiring an additional 2,653 shares during the period. First Trust Advisors LP boosted its position in shares of Biogen by 42.6% during the 4th quarter. First Trust Advisors LP now owns 511,280 shares of the biotechnology company’s stock valued at $78,185,000 after acquiring an additional 152,789 shares in the last quarter. Freedom Investment Management Inc. increased its stake in Biogen by 8.5% in the fourth quarter. Freedom Investment Management Inc. now owns 2,024 shares of the biotechnology company’s stock valued at $310,000 after acquiring an additional 159 shares during the period. Finally, Forum Financial Management LP raised its position in Biogen by 26.5% in the fourth quarter. Forum Financial Management LP now owns 3,804 shares of the biotechnology company’s stock worth $582,000 after purchasing an additional 796 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Piper Sandler reiterated a “neutral” rating and issued a $135.00 price target (down from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Citigroup dropped their price objective on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. BMO Capital Markets reduced their target price on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research note on Thursday, February 13th. Finally, Bank Of America (Bofa) lowered their target price on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Biogen presently has an average rating of “Hold” and an average target price of $213.15.

Biogen Trading Down 1.8 %

BIIB opened at $116.49 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $238.00. The firm’s fifty day moving average is $133.95 and its two-hundred day moving average is $150.71. The firm has a market cap of $17.05 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Insider Buying and Selling

In other news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the sale, the director now owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by company insiders.

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.