Biogen Inc. (NASDAQ:BIIB) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 90.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 23,840 shares of the biotechnology company’s stock after selling 223,695 shares during the period. Tocqueville Asset Management L.P.’s holdings in Biogen were worth $3,646,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Empowered Funds LLC lifted its holdings in shares of Biogen by 455.8% during the third quarter. Empowered Funds LLC now owns 18,908 shares of the biotechnology company’s stock valued at $3,665,000 after purchasing an additional 15,506 shares during the last quarter. Swiss National Bank lifted its stake in Biogen by 0.4% during the third quarter. Swiss National Bank now owns 432,100 shares of the biotechnology company’s stock valued at $83,758,000 after buying an additional 1,700 shares in the last quarter. LMR Partners LLP boosted its holdings in shares of Biogen by 25.7% in the third quarter. LMR Partners LLP now owns 8,121 shares of the biotechnology company’s stock worth $1,574,000 after buying an additional 1,661 shares during the period. Caprock Group LLC increased its position in shares of Biogen by 16.3% in the third quarter. Caprock Group LLC now owns 3,118 shares of the biotechnology company’s stock worth $604,000 after acquiring an additional 437 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Biogen during the third quarter valued at approximately $1,427,000. 87.93% of the stock is owned by institutional investors.

Biogen Stock Performance

NASDAQ:BIIB opened at $143.09 on Wednesday. The firm has a market capitalization of $20.94 billion, a PE ratio of 12.79, a PEG ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 1 year low of $128.51 and a 1 year 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’s fifty day simple moving average is $142.70 and its 200 day simple moving average is $163.15.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Citigroup decreased their price objective on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. HC Wainwright lowered their price target on Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Scotiabank decreased their price objective on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 13th. Finally, BMO Capital Markets dropped their target price on Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Biogen presently has a consensus rating of “Hold” and a consensus target price of $213.33.

Insider Activity

In other 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 value of $1,314,175.20. Following the sale, the director now owns 11,318 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by company insiders.

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.