Roberts Glore & Co. Inc. IL Cuts Stock Position in Biogen Inc. (NASDAQ:BIIB)

Roberts Glore & Co. Inc. IL lessened its holdings in Biogen Inc. (NASDAQ:BIIB) by 4.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,536 shares of the biotechnology company’s stock after selling 148 shares during the quarter. Roberts Glore & Co. Inc. IL’s holdings in Biogen were worth $541,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. State Street Corp raised its stake in shares of Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after acquiring an additional 248,942 shares during the period. Geode Capital Management LLC raised its stake in shares of Biogen by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock valued at $698,062,000 after acquiring an additional 47,055 shares during the period. Pacer Advisors Inc. raised its stake in shares of Biogen by 13,574.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after acquiring an additional 2,648,024 shares during the period. Amundi raised its stake in shares of Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after acquiring an additional 319,478 shares during the period. Finally, RA Capital Management L.P. raised its stake in shares of Biogen by 20.6% in the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock valued at $229,595,000 after acquiring an additional 202,317 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Up 2.0 %

NASDAQ BIIB opened at $150.38 on Friday. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The company has a 50-day simple moving average of $143.98 and a 200-day simple moving average of $166.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The firm has a market capitalization of $22.01 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating 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 forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of research reports. Citigroup cut their target price on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Sanford C. Bernstein started coverage on shares of Biogen in a research note on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price target on the stock. Scotiabank dropped their price target on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and dropped their price target for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. Finally, Robert W. Baird lifted their price target on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $213.33.

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.