Impax Asset Management Group plc Sells 2,080 Shares of Biogen Inc. (NASDAQ:BIIB)

Impax Asset Management Group plc reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 5.4% in the fourth quarter, Holdings Channel reports. The firm owned 36,730 shares of the biotechnology company’s stock after selling 2,080 shares during the quarter. Impax Asset Management Group plc’s holdings in Biogen were worth $5,617,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Biogen during the 3rd quarter valued at about $33,000. Golden State Wealth Management LLC purchased a new stake in shares of Biogen during the 4th quarter valued at about $41,000. Venturi Wealth Management LLC boosted its holdings in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 93 shares during the last quarter. Itau Unibanco Holding S.A. boosted its holdings in shares of 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 during the last quarter. Finally, Quent Capital LLC boosted its holdings in shares of Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after acquiring an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BIIB. Bank Of America (Bofa) dropped their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Bank of America reaffirmed a “neutral” rating and set a $178.00 price target on shares of Biogen in a report on Tuesday, December 10th. JPMorgan Chase & Co. dropped their price objective on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $250.00 to $180.00 in a report on Monday, December 9th. Finally, The Goldman Sachs Group dropped 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. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Biogen has a consensus rating of “Hold” and an average target price of $213.33.

Biogen Trading Up 0.4 %

Biogen stock opened at $141.27 on Tuesday. The firm’s 50 day moving average price is $144.97 and its 200-day moving average price is $169.97. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The stock has a market cap of $20.68 billion, a P/E ratio of 12.62, a PEG ratio of 1.51 and a beta of -0.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results 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%. On average, equities analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

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.