Natixis Advisors LLC Sells 10,054 Shares of Biogen Inc. (NASDAQ:BIIB)

Natixis Advisors LLC lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 28.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,757 shares of the biotechnology company’s stock after selling 10,054 shares during the quarter. Natixis Advisors LLC’s holdings in Biogen were worth $4,799,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. O Shaughnessy Asset Management LLC raised its stake in Biogen by 5.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,940 shares of the biotechnology company’s stock valued at $849,000 after purchasing an additional 188 shares during the period. EntryPoint Capital LLC bought a new stake in Biogen in the 1st quarter worth approximately $36,000. Advisors Asset Management Inc. increased its stake in Biogen by 6.5% in the 1st quarter. Advisors Asset Management Inc. now owns 7,441 shares of the biotechnology company’s stock worth $1,605,000 after acquiring an additional 451 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Biogen by 3.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 109,159 shares of the biotechnology company’s stock worth $23,538,000 after acquiring an additional 3,233 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Biogen by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock worth $342,772,000 after acquiring an additional 81,283 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of BIIB stock opened at $157.90 on Friday. Biogen Inc. has a twelve month low of $153.62 and a twelve month high of $268.30. The stock has a market capitalization of $23.01 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 1.47 and a beta of -0.06. The stock has a fifty day simple moving average of $181.85 and a two-hundred day simple moving average of $205.32. 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:BIIB) last issued 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 business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.36 EPS. On average, analysts predict that Biogen Inc. will post 16.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Citigroup assumed coverage on Biogen in a research note on Thursday, November 14th. They issued a “neutral” rating and a $190.00 price objective on the stock. Truist Financial reaffirmed a “buy” rating and issued a $302.00 price objective (down previously from $340.00) on shares of Biogen in a research note on Monday, August 5th. Wedbush cut their target price on Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. HC Wainwright reissued a “buy” rating and set a $300.00 target price on shares of Biogen in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $292.00 target price on shares of Biogen in a research report on Monday, September 9th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $257.20.

Insider Buying and Selling

In related news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. This represents a 7.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.16% of the stock is currently 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.