Biogen Inc. (NASDAQ:BIIB) Shares Sold by Sei Investments Co.

Sei Investments Co. decreased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 69.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,694 shares of the biotechnology company’s stock after selling 75,258 shares during the period. Sei Investments Co.’s holdings in Biogen were worth $4,999,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Pacer Advisors Inc. increased its holdings in shares of Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after buying an additional 2,648,024 shares during the last quarter. Van ECK Associates Corp increased its stake in Biogen by 977.9% during the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock worth $163,083,000 after acquiring an additional 967,523 shares during the last quarter. Amundi increased its stake in Biogen by 35.6% during the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after acquiring an additional 319,478 shares during the last quarter. State Street Corp lifted 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 purchasing an additional 248,942 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of Biogen by 122.1% in the 3rd quarter. Two Sigma Advisers LP now owns 427,600 shares of the biotechnology company’s stock valued at $82,886,000 after purchasing an additional 235,100 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of recent research reports. Canaccord Genuity Group reduced their price target on shares of Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. HC Wainwright decreased their price target on shares of Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Morgan Stanley lowered their price target on Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. BMO Capital Markets reduced their price objective on Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group lowered their target price on Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $213.33.

Insider Transactions at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

Biogen Stock Down 3.5 %

BIIB stock opened at $132.03 on Wednesday. The stock has a market cap of $19.33 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The firm’s 50-day simple moving average is $141.63 and its 200 day simple moving average is $158.82. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two 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.

Biogen (NASDAQ:BIIB) last announced 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%. As a group, sell-side analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

About Biogen

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.