American Century Companies Inc. Sells 101,604 Shares of Biogen Inc. (NASDAQ:BIIB)

American Century Companies Inc. lessened its position in shares of Biogen Inc. (NASDAQ:BIIB) by 46.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 115,374 shares of the biotechnology company’s stock after selling 101,604 shares during the period. American Century Companies Inc.’s holdings in Biogen were worth $17,643,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Inspire Trust Co. N.A. grew its holdings in shares of Biogen by 58.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after purchasing an additional 4,025 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after buying an additional 111 shares in the last quarter. Centre Asset Management LLC grew its holdings in Biogen by 7.7% in the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after purchasing an additional 3,698 shares during the period. Amundi grew its stake in shares of Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after buying an additional 319,478 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Biogen by 48.0% in the fourth quarter. Nordea Investment Management AB now owns 117,963 shares of the biotechnology company’s stock worth $17,901,000 after acquiring an additional 38,283 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Bank Of America (Bofa) reduced their target price on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. BMO Capital Markets cut their target price on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research report on Thursday, February 13th. The Goldman Sachs Group reduced their price target on Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Canaccord Genuity Group reduced their price objective on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Royal Bank of Canada decreased their target price on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $213.33.

Biogen Stock Performance

NASDAQ BIIB opened at $136.84 on Tuesday. The firm has a market cap of $20.03 billion, a P/E ratio of 12.23, a P/E/G ratio of 1.51 and a beta of 0.01. 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 business’s 50-day moving average price is $141.81 and its 200 day moving average price is $159.27. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00.

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, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, equities research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction on 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 transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by insiders.

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.