Pictet Asset Management Holding SA Reduces Stock Position in Biogen Inc. (NASDAQ:BIIB)

Pictet Asset Management Holding SA decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 37.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293,693 shares of the biotechnology company’s stock after selling 178,832 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Biogen were worth $44,912,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Lee Danner & Bass Inc. purchased a new stake in Biogen during the fourth quarter worth $25,000. Larson Financial Group LLC boosted its position in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after buying an additional 141 shares in the last quarter. SRS Capital Advisors Inc. purchased a new stake in shares of Biogen in the 4th quarter worth about $33,000. OFI Invest Asset Management acquired a new stake in Biogen in the 4th quarter valued at about $32,000. Finally, Itau Unibanco Holding S.A. increased its holdings in Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Down 1.4 %

Shares of Biogen stock opened at $138.37 on Monday. The company has a fifty day moving average price of $141.88 and a 200 day moving average price of $159.70. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The stock has a market cap of $20.25 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

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

Analyst Upgrades and Downgrades

BIIB has been the topic of several research reports. Citigroup lowered their price target on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Truist Financial dropped their price target on Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. HC Wainwright reduced their price objective on Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Wells Fargo & Company decreased their price objective on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Finally, Scotiabank cut their target price on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note 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’s stock. According to MarketBeat.com, Biogen currently has an average rating of “Hold” and an average target price of $213.33.

Insider Activity

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 transaction of $1,314,175.20. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

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.