Natixis Advisors LLC Sells 7,796 Shares of Biogen Inc. (NASDAQ:BIIB)

Natixis Advisors LLC lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 31.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,961 shares of the biotechnology company’s stock after selling 7,796 shares during the quarter. Natixis Advisors LLC’s holdings in Biogen were worth $2,594,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Commerce Bank raised its holdings in Biogen by 11.4% in the 3rd quarter. Commerce Bank now owns 9,915 shares of the biotechnology company’s stock valued at $1,922,000 after buying an additional 1,014 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Biogen by 2.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,696 shares of the biotechnology company’s stock valued at $1,298,000 after buying an additional 147 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Biogen by 29.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 711,184 shares of the biotechnology company’s stock valued at $137,856,000 after buying an additional 162,511 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Biogen by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after buying an additional 12,319 shares during the last quarter. Finally, Raymond James Trust N.A. raised its holdings in Biogen by 2.7% in the 3rd quarter. Raymond James Trust N.A. now owns 2,993 shares of the biotechnology company’s stock valued at $580,000 after buying an additional 80 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of BIIB opened at $140.90 on Monday. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The business’s fifty day moving average is $142.16 and its 200 day moving average is $161.81. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The stock has a market cap of $20.62 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last issued 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 return on equity of 14.98% and a net margin of 16.87%. Sell-side analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BIIB shares. 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. Citigroup dropped their price objective on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Truist Financial dropped their price objective on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Scotiabank decreased their target price on shares of 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, The Goldman Sachs Group decreased their target price on shares of Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.