Schroder Investment Management Group Has $6.40 Million Stake in Biogen Inc. (NASDAQ:BIIB)

Schroder Investment Management Group reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 33.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 42,615 shares of the biotechnology company’s stock after selling 21,444 shares during the quarter. Schroder Investment Management Group’s holdings in Biogen were worth $6,400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BIIB. Allianz SE bought a new position in Biogen during the 4th quarter valued at about $219,000. Cornercap Investment Counsel Inc. raised its stake in shares of Biogen by 16.6% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 8,239 shares of the biotechnology company’s stock valued at $1,260,000 after acquiring an additional 1,174 shares during the last quarter. Allstate Corp acquired a new position in shares of Biogen in the 4th quarter worth approximately $657,000. Orion Portfolio Solutions LLC grew its position in Biogen by 12.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 6,846 shares of the biotechnology company’s stock worth $1,047,000 after acquiring an additional 754 shares during the last quarter. Finally, denkapparat Operations GmbH acquired a new stake in Biogen during the 4th quarter valued at $248,000. 87.93% of the stock is owned by institutional investors.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $122.98 on Friday. The company has a fifty day moving average price of $140.68 and a 200 day moving average price of $157.90. Biogen Inc. has a 1-year low of $122.77 and a 1-year high of $238.00. The firm has a market cap of $18.00 billion, a PE ratio of 10.99, a PEG ratio of 1.51 and a beta of 0.01. 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 (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (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%. Research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Bank of America restated a “neutral” rating and set a $178.00 target price on shares of Biogen in a report on Tuesday, December 10th. Truist Financial lowered their price objective on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. BMO Capital Markets reduced their target price on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research report on Thursday, February 13th. Scotiabank lowered their price target on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. Finally, Canaccord Genuity Group reduced their price objective on Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Eighteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Biogen presently has an average rating of “Hold” and a consensus price target of $213.33.

Insider Transactions at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of Biogen 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 directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

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.