Federated Hermes Inc. Decreases Stock Position in Biogen Inc. (NASDAQ:BIIB)

Federated Hermes Inc. lessened its position in Biogen Inc. (NASDAQ:BIIB) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,148 shares of the biotechnology company’s stock after selling 4,320 shares during the quarter. Federated Hermes Inc. owned about 0.07% of Biogen worth $25,915,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in Biogen during the fourth quarter worth approximately $25,000. OFI Invest Asset Management purchased a new position in Biogen during the third quarter worth approximately $26,000. Gladius Capital Management LP purchased a new position in Biogen during the third quarter worth approximately $28,000. KB Financial Partners LLC lifted its position in Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after buying an additional 62 shares in the last quarter. Finally, CVA Family Office LLC purchased a new position in Biogen during the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insiders Place Their Bets

In other Biogen news, Director Eric K. Rowinsky purchased 455 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Biogen news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction dated Thursday, February 22nd. The stock was 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 directly owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The stock was purchased 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 directly 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 882 shares of company stock valued at $202,030 in the last ninety days. Insiders own 0.60% of the company’s stock.

Biogen Trading Up 2.0 %

BIIB opened at $194.38 on Monday. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $319.76. The stock has a market capitalization of $28.26 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.85 and a beta of -0.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. The business has a fifty day moving average price of $215.23 and a 200 day moving average price of $235.57.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the firm earned $4.05 earnings per share. Sell-side analysts expect that Biogen Inc. will post 15.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $364.00 target price on shares of Biogen in a research note on Tuesday, March 5th. Piper Sandler cut their target price on Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Oppenheimer cut their target price on Biogen from $290.00 to $270.00 and set an “outperform” rating for the company in a research note on Friday. JPMorgan Chase & Co. cut their target price on Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Finally, UBS Group cut their target price on Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Biogen currently has an average rating of “Moderate Buy” and a consensus price target of $295.58.

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.