Desjardins Global Asset Management Inc. Has $115,000 Holdings in Biogen Inc. (NASDAQ:BIIB)

Desjardins Global Asset Management Inc. cut its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 86.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 446 shares of the biotechnology company’s stock after selling 2,750 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Biogen were worth $115,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new stake in Biogen in the fourth quarter valued at $25,000. OFI Invest Asset Management acquired a new stake in Biogen in the third quarter valued at $26,000. Gladius Capital Management LP acquired a new stake in Biogen in the third quarter valued at $28,000. KB Financial Partners LLC increased its holdings in Biogen by 105.1% in the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares during the period. Finally, CVA Family Office LLC acquired a new stake in Biogen in the fourth quarter valued at $36,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on BIIB shares. StockNews.com cut shares of Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Wells Fargo & Company cut shares of Biogen from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $315.00 to $240.00 in a research report on Wednesday, February 14th. Bank of America cut their price target on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Bank Of America (Bofa) cut their price target on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a research report on Monday, February 12th. Finally, Mizuho cut their price target on shares of Biogen from $355.00 to $277.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Biogen has an average rating of “Moderate Buy” and a consensus price target of $295.58.

Insider Transactions at Biogen

In related news, Director Eric K. Rowinsky purchased 455 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the purchase, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares in the company, valued at approximately $1,080,929.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric K. Rowinsky acquired 455 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders sold a total of 882 shares of company stock worth $202,030 in the last quarter. Insiders own 0.60% of the company’s stock.

Biogen Trading Up 2.0 %

NASDAQ:BIIB opened at $194.38 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. The firm has a market cap of $28.26 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 1.81 and a beta of -0.02. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76. The firm has a 50-day moving average price of $215.23 and a two-hundred day moving average price of $235.83.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing the consensus estimate of $3.18 by ($0.23). The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same quarter last year, the business posted $4.05 EPS. On average, equities analysts expect that Biogen Inc. will post 15.47 earnings per share for the current fiscal 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.