Biogen Inc. (NASDAQ:BIIB) Shares Sold by National Bank of Canada FI

National Bank of Canada FI decreased its position in Biogen Inc. (NASDAQ:BIIB) by 63.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,824 shares of the biotechnology company’s stock after selling 128,451 shares during the period. National Bank of Canada FI owned about 0.05% of Biogen worth $16,130,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Mutual Advisors LLC lifted its stake in shares of Biogen by 15.7% in the fourth quarter. Mutual Advisors LLC now owns 3,496 shares of the biotechnology company’s stock valued at $905,000 after purchasing an additional 475 shares during the period. CVA Family Office LLC acquired a new position in shares of Biogen in the fourth quarter worth $36,000. Pacer Advisors Inc. lifted its position in shares of Biogen by 74.4% in the fourth quarter. Pacer Advisors Inc. now owns 28,929 shares of the biotechnology company’s stock valued at $7,486,000 after acquiring an additional 12,343 shares in the last quarter. IFG Advisory LLC grew its holdings in shares of Biogen by 5.5% during the fourth quarter. IFG Advisory LLC now owns 1,779 shares of the biotechnology company’s stock worth $460,000 after buying an additional 93 shares in the last quarter. Finally, Planned Solutions Inc. acquired a new position in shares of Biogen in the fourth quarter valued at approximately $52,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BIIB has been the topic of several analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price objective on shares of Biogen in a research report on Monday, April 29th. Truist Financial reiterated a “buy” rating and set a $340.00 price objective on shares of Biogen in a report on Thursday, May 16th. UBS Group lowered their target price on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Piper Sandler dropped their price target on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Finally, HSBC lifted their price target on shares of Biogen from $339.00 to $342.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen currently has an average rating of “Moderate Buy” and a consensus price target of $286.00.

Biogen Stock Performance

BIIB traded up $1.74 during trading hours on Wednesday, hitting $226.03. The company’s stock had a trading volume of 908,400 shares, compared to its average volume of 1,123,931. The company has a 50-day simple moving average of $226.73 and a 200 day simple moving average of $224.81. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $32.91 billion, a PE ratio of 28.22, a PEG ratio of 2.28 and a beta of -0.04. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $280.42.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period last year, the company earned $3.40 earnings per share. As a group, sell-side analysts expect that Biogen Inc. will post 15.61 EPS for the current year.

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.