Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Position in Biogen Inc. (NASDAQ:BIIB)

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its stake in Biogen Inc. (NASDAQ:BIIB) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,821 shares of the biotechnology company’s stock after selling 1,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Biogen were worth $4,560,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Grandfield & Dodd LLC grew its stake in shares of Biogen by 5.2% during the 3rd quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after acquiring an additional 62 shares during the period. Quintet Private Bank Europe S.A. lifted its holdings in Biogen by 9.7% during the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 63 shares in the last quarter. Quent Capital LLC lifted its holdings in Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 72 shares in the last quarter. TD Private Client Wealth LLC boosted its position in shares of Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 77 shares during the period. Finally, Principal Securities Inc. increased its stake in shares of Biogen by 30.1% in the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 78 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of analyst reports. Piper Sandler restated a “neutral” rating and set a $135.00 target price (down previously from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. TD Cowen lowered their price objective on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. William Blair reiterated an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Jefferies Financial Group cut 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 report on Monday, December 9th. Finally, Sanford C. Bernstein started coverage on shares of Biogen in a report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price objective for the company. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $213.33.

Biogen Price Performance

Biogen stock opened at $143.46 on Wednesday. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. 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 firm has a 50-day moving average price of $144.83 and a 200-day moving average price of $169.56. The firm has a market capitalization of $21.00 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.51 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last announced its 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 return on equity of 14.98% and a net margin of 16.87%. As a group, equities research analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

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.