Desjardins Global Asset Management Inc. Sells 2,750 Shares of Biogen Inc. (NASDAQ:BIIB)

Desjardins Global Asset Management Inc. reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 86.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 446 shares of the biotechnology company’s stock after selling 2,750 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Biogen were worth $115,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. ICICI Prudential Asset Management Co Ltd raised its holdings in Biogen by 15.0% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock worth $9,313,000 after purchasing an additional 4,693 shares during the period. Boone Capital Management LLC increased its stake in Biogen by 52.9% in the 3rd quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock worth $24,703,000 after buying an additional 33,238 shares in the last quarter. iA Global Asset Management Inc. increased its stake in Biogen by 35.2% in the 3rd quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock worth $3,102,000 after buying an additional 3,145 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in Biogen by 13.8% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock worth $17,577,000 after buying an additional 8,291 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC increased its stake in Biogen by 6.2% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock worth $1,251,000 after buying an additional 285 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Stock Up 2.0 %

Shares of NASDAQ BIIB opened at $194.38 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. The company has a market cap of $28.26 billion, a P/E ratio of 24.36, a PEG ratio of 1.81 and a beta of -0.02. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $319.76. The firm has a 50-day simple moving average of $215.23 and a two-hundred day simple moving average of $235.83.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.18 by ($0.23). The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same period in the previous year, the business earned $4.05 EPS. Research analysts anticipate that Biogen Inc. will post 15.47 earnings per share for the current year.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric K. Rowinsky purchased 455 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders sold a total of 882 shares of company stock valued at $202,030 over the last 90 days. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

BIIB has been the subject of a number of analyst reports. Canaccord Genuity Group cut their price target on Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Robert W. Baird cut their price target on Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Monday, April 1st. Barclays cut their price objective on Biogen from $230.00 to $215.00 and set an “equal weight” rating for the company in a research report on Thursday, April 4th. Finally, BMO Capital Markets cut their price objective on Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.58.

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.