Biogen Inc. (NASDAQ:BIIB) Position Lessened by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 40.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,187 shares of the biotechnology company’s stock after selling 2,870 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Biogen were worth $640,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. AE Wealth Management LLC acquired a new position in Biogen during the 2nd quarter valued at about $259,000. Public Sector Pension Investment Board grew its holdings in Biogen by 77.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 5,661 shares of the biotechnology company’s stock worth $1,312,000 after buying an additional 2,465 shares in the last quarter. AQR Capital Management LLC increased its position in Biogen by 270.3% in the 2nd quarter. AQR Capital Management LLC now owns 23,557 shares of the biotechnology company’s stock valued at $5,461,000 after acquiring an additional 17,195 shares during the period. APG Asset Management N.V. raised its stake in Biogen by 2.3% during the 2nd quarter. APG Asset Management N.V. now owns 129,576 shares of the biotechnology company’s stock valued at $28,027,000 after acquiring an additional 2,906 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in Biogen during the 2nd quarter worth $216,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of Biogen stock opened at $146.20 on Friday. The stock has a market cap of $21.30 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 1.64 and a beta of -0.07. Biogen Inc. has a 12 month low of $139.71 and a 12 month high of $251.99. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $151.93 and a 200-day simple moving average of $181.95.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the company posted $4.36 EPS. On average, sell-side analysts anticipate that Biogen Inc. will post 16.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of recent analyst reports. TD Cowen cut their price objective on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company reduced their price target on shares of Biogen from $190.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Citigroup started coverage on shares of Biogen in a research note on Thursday, November 14th. They set a “neutral” rating and a $190.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $300.00 target price on shares of Biogen in a research report on Thursday, October 31st. Finally, Needham & Company LLC cut Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target on the stock. in a research report on Monday, November 18th. Sixteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Biogen presently has an average rating of “Hold” and a consensus target price of $230.00.

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.