Candriam S.C.A. Cuts Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Candriam S.C.A. lowered its position in Biogen Inc. (NASDAQ:BIIB) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 201,964 shares of the biotechnology company’s stock after selling 10,493 shares during the period. Candriam S.C.A. owned approximately 0.14% of Biogen worth $30,884,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Biogen in the 4th quarter worth approximately $21,710,000. Proficio Capital Partners LLC acquired a new stake in Biogen in the 4th quarter worth approximately $5,028,000. Seizert Capital Partners LLC boosted its stake in Biogen by 260.5% in the 4th quarter. Seizert Capital Partners LLC now owns 39,671 shares of the biotechnology company’s stock worth $6,066,000 after purchasing an additional 28,667 shares in the last quarter. Clark Estates Inc. NY boosted its stake in Biogen by 0.9% in the 4th quarter. Clark Estates Inc. NY now owns 16,300 shares of the biotechnology company’s stock worth $2,493,000 after purchasing an additional 150 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Biogen by 6.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 971,263 shares of the biotechnology company’s stock valued at $148,526,000 after acquiring an additional 58,234 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of BIIB opened at $143.77 on Thursday. 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 market cap of $21.04 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.51 and a beta of -0.08. The company’s 50 day simple moving average is $144.05 and its 200-day simple moving average is $167.25. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00.

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, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, equities analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analyst Weigh In

BIIB has been the subject of several recent analyst reports. Bank of America reissued a “neutral” rating and issued a $178.00 price target on shares of Biogen in a report on Tuesday, December 10th. Bank Of America (Bofa) dropped their price objective on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Morgan Stanley dropped their price objective on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Scotiabank dropped their price objective 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, Robert W. Baird upped their price objective on shares of Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Seventeen 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, the stock has a consensus rating of “Hold” and a consensus target price of $213.33.

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.