Groupama Asset Managment Has $1.48 Million Position in Biogen Inc. (NASDAQ:BIIB)

Groupama Asset Managment lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 51.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,872 shares of the biotechnology company’s stock after selling 10,650 shares during the period. Groupama Asset Managment’s holdings in Biogen were worth $1,483,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BIIB. Headlands Technologies LLC raised its stake in shares of Biogen by 2,173.8% in the fourth quarter. Headlands Technologies LLC now owns 28,377 shares of the biotechnology company’s stock worth $4,339,000 after acquiring an additional 27,129 shares during the last quarter. Geode Capital Management LLC raised its position in Biogen by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company’s stock worth $563,709,000 after purchasing an additional 82,456 shares during the last quarter. HighPoint Advisor Group LLC lifted its holdings in Biogen by 24.5% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,934 shares of the biotechnology company’s stock worth $270,000 after buying an additional 381 shares in the last quarter. Franklin Resources Inc. boosted its position in Biogen by 5.2% in the 4th quarter. Franklin Resources Inc. now owns 394,391 shares of the biotechnology company’s stock valued at $60,310,000 after buying an additional 19,644 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG increased its stake in shares of Biogen by 37.6% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 10,128 shares of the biotechnology company’s stock valued at $1,549,000 after buying an additional 2,767 shares during the period. 87.93% of the stock is owned by institutional investors.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were 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. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BIIB. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research note on Monday, December 16th. Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and lowered their price target for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. The Goldman Sachs Group cut their price objective on shares of Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Sanford C. Bernstein assumed coverage on shares of Biogen in a research note on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price objective on the stock. Finally, Truist Financial dropped their target price on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $213.33.

Biogen Price Performance

Shares of BIIB opened at $131.32 on Thursday. The company has a 50 day moving average of $141.40 and a 200-day moving average of $158.63. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $19.22 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.51 and a beta of 0.01. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, equities research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.