Thrivent Financial for Lutherans Decreases Position in Biogen Inc. (NASDAQ:BIIB)

Thrivent Financial for Lutherans decreased its position in Biogen Inc. (NASDAQ:BIIB) by 91.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,836 shares of the biotechnology company’s stock after selling 172,817 shares during the period. Thrivent Financial for Lutherans’ holdings in Biogen were worth $2,421,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BIIB. Larson Financial Group LLC lifted its position in shares of Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 141 shares during the last quarter. OFI Invest Asset Management bought a new stake in Biogen in the 4th quarter valued at about $32,000. SRS Capital Advisors Inc. purchased a new stake in Biogen during the fourth quarter valued at about $33,000. Golden State Wealth Management LLC bought a new position in Biogen during the fourth quarter worth about $41,000. Finally, Itau Unibanco Holding S.A. increased its stake in shares of Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 90 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

BIIB has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a report on Thursday, February 13th. The Goldman Sachs Group reduced their price target on Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Bank of America reiterated a “neutral” rating and set a $178.00 price objective on shares of Biogen in a research note on Tuesday, December 10th. Royal Bank of Canada cut their target price on Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, Scotiabank decreased their price target on Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Down 1.5 %

Shares of NASDAQ BIIB opened at $140.33 on Friday. The firm’s fifty day moving average is $141.92 and its 200 day moving average is $160.68. Biogen Inc. has a 52 week low of $128.51 and a 52 week high of $238.00. 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 company has a market cap of $20.54 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, equities research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

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.