Biogen Inc. (NASDAQ:BIIB) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its stake in Biogen Inc. (NASDAQ:BIIBFree Report) by 3.4% in the fourth quarter, HoldingsChannel reports. The fund owned 3,246 shares of the biotechnology company’s stock after selling 113 shares during the quarter. Fifth Third Bancorp’s holdings in Biogen were worth $496,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in BIIB. International Assets Investment Management LLC lifted its stake in shares of Biogen by 19,722.9% in the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after acquiring an additional 357,181 shares during the period. Mizuho Securities USA LLC boosted its holdings in Biogen by 2,715.9% during the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock worth $61,253,000 after buying an additional 304,778 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Biogen in the third quarter worth approximately $55,826,000. State Street Corp increased its holdings in shares of 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 in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Biogen by 122.1% during the 3rd quarter. Two Sigma Advisers LP now owns 427,600 shares of the biotechnology company’s stock valued at $82,886,000 after acquiring an additional 235,100 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Trading Up 1.3 %

Shares of NASDAQ:BIIB opened at $146.23 on Friday. The stock has a market capitalization of $21.31 billion, a PE ratio of 13.21, a P/E/G ratio of 1.64 and a beta of -0.07. The firm has a fifty day moving average price of $151.32 and a 200 day moving average price of $179.80. Biogen Inc. has a 1 year low of $139.71 and a 1 year high of $251.99. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIBGet Free Report) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company’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 EPS. Analysts expect that Biogen Inc. will post 16.41 EPS for the current fiscal year.

Analysts Set New Price Targets

BIIB has been the topic of a number of recent research reports. Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price on the stock. in a report on Monday, December 16th. Morgan Stanley downgraded Biogen from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $285.00 to $204.00 in a report on Thursday, October 31st. Royal Bank of Canada decreased their target price on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Citigroup cut their price target on shares of Biogen from $190.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Barclays cut their price target on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Sixteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $228.80.

View Our Latest Analysis on Biogen

Biogen Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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