Robeco Institutional Asset Management B.V. Sells 180,219 Shares of Biogen Inc. (NASDAQ:BIIB)

Robeco Institutional Asset Management B.V. trimmed its position in Biogen Inc. (NASDAQ:BIIB) by 52.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,591 shares of the biotechnology company’s stock after selling 180,219 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.11% of Biogen worth $418,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BIIB. Gladius Capital Management LP purchased a new stake in Biogen during the 3rd quarter valued at approximately $28,000. KB Financial Partners LLC grew its holdings in shares of 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 in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Biogen by 76.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 51 shares in the last quarter. CVA Family Office LLC purchased a new position in shares of Biogen in the fourth quarter valued at $36,000. Finally, Baker Avenue Asset Management LP grew its holdings in shares of Biogen by 215.5% in the third quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 125 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $364.00 target price on shares of Biogen in a report on Tuesday, March 5th. William Blair reissued an “outperform” rating on shares of Biogen in a report on Monday, April 1st. JPMorgan Chase & Co. cut their target price on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $311.00 price target on shares of Biogen in a research report on Tuesday, February 20th. Finally, Mizuho lowered their price target on Biogen from $355.00 to $277.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Biogen currently has an average rating of “Moderate Buy” and an average price target of $288.46.

Biogen Stock Performance

Shares of Biogen stock opened at $217.81 on Friday. The company has a market capitalization of $31.71 billion, a PE ratio of 27.19, a P/E/G ratio of 1.75 and a beta of -0.01. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10. The company has a 50-day simple moving average of $212.88 and a two-hundred day simple moving average of $229.62. Biogen Inc. has a one year low of $189.44 and a one year high of $319.76.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The firm’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.40 earnings per share. Research analysts expect that Biogen Inc. will post 15.61 EPS 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.