Sterling Capital Management LLC Grows Holdings in Biogen Inc. (NASDAQ:BIIB)

Sterling Capital Management LLC increased its position in Biogen Inc. (NASDAQ:BIIB) by 55.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,636 shares of the biotechnology company’s stock after buying an additional 3,071 shares during the period. Sterling Capital Management LLC’s holdings in Biogen were worth $1,321,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BIIB. MML Investors Services LLC grew its position in shares of Biogen by 3.8% in the third quarter. MML Investors Services LLC now owns 10,280 shares of the biotechnology company’s stock valued at $1,993,000 after purchasing an additional 380 shares during the period. TD Private Client Wealth LLC boosted its position in shares of Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after acquiring an additional 77 shares during the last quarter. Virtu Financial LLC acquired a new position in Biogen during the third quarter worth approximately $4,111,000. World Investment Advisors LLC acquired a new position in shares of Biogen in the 3rd quarter valued at $1,118,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Biogen during the 3rd quarter valued at $150,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BIIB. BMO Capital Markets lowered their price target on Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research report on Thursday, February 13th. Argus cut shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Piper Sandler reissued a “neutral” rating and issued a $135.00 target price (down previously from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Stifel Nicolaus downgraded Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a report on Monday, December 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Eighteen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Biogen has an average rating of “Hold” and a consensus target price of $213.15.

Biogen Stock Performance

Shares of NASDAQ BIIB opened at $119.26 on Tuesday. 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 firm’s 50-day moving average price is $136.21 and its two-hundred day moving average price is $153.22. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $238.00. The stock has a market capitalization of $17.46 billion, a P/E ratio of 10.66, a P/E/G ratio of 1.51 and a beta of 0.06.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Activity

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business’s 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. The trade was a 43.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.