Federated Hermes Inc. Sells 1,181 Shares of Biogen Inc. (NASDAQ:BIIB)

Federated Hermes Inc. decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 1.2% in the 4th quarter, Holdings Channel reports. The firm owned 101,403 shares of the biotechnology company’s stock after selling 1,181 shares during the quarter. Federated Hermes Inc.’s holdings in Biogen were worth $15,507,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BIIB. Signaturefd LLC grew its position in shares of Biogen by 3.5% during the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock worth $320,000 after buying an additional 71 shares during the period. Quent Capital LLC grew its position in Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 72 shares during the period. TD Private Client Wealth LLC grew its position in Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares during the period. Principal Securities Inc. grew its position in Biogen by 30.1% in the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 78 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Biogen by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock valued at $767,000 after purchasing an additional 79 shares during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Up 5.6 %

BIIB stock opened at $120.49 on Thursday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $137.86 and its 200 day moving average is $155.09. The stock has a market cap of $17.64 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $238.00.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping 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%. Sell-side analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BIIB. Bank Of America (Bofa) reduced their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Stifel Nicolaus downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a research report on Monday, December 16th. The Goldman Sachs Group reduced their price target on shares of Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada cut their price objective on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, BMO Capital Markets cut their price objective on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a report on Thursday, February 13th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $213.15.

Biogen Company 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.