Hunter Associates Investment Management LLC Decreases Stake in Biogen Inc. (NASDAQ:BIIB)

Hunter Associates Investment Management LLC reduced its position in Biogen Inc. (NASDAQ:BIIB) by 23.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,986 shares of the biotechnology company’s stock after selling 614 shares during the period. Hunter Associates Investment Management LLC’s holdings in Biogen were worth $304,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. AQR Capital Management LLC boosted its position in Biogen by 270.3% in the 2nd quarter. AQR Capital Management LLC now owns 23,557 shares of the biotechnology company’s stock valued at $5,461,000 after buying an additional 17,195 shares during the last quarter. Creative Planning grew its stake in Biogen by 32.4% in the second quarter. Creative Planning now owns 18,274 shares of the biotechnology company’s stock worth $4,236,000 after purchasing an additional 4,473 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Biogen by 8.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,309 shares of the biotechnology company’s stock worth $1,694,000 after purchasing an additional 543 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Biogen in the second quarter worth about $1,387,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Biogen in the second quarter worth about $9,898,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of research reports. Needham & Company LLC downgraded Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target for the company. in a research note on Monday, November 18th. Barclays decreased their price target on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Oppenheimer decreased their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Truist Financial decreased their price target on Biogen from $302.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, William Blair restated an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Sixteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $228.80.

Biogen Price Performance

NASDAQ BIIB opened at $143.93 on Friday. The stock has a market capitalization of $20.97 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.66 and a beta of -0.07. Biogen Inc. has a 1 year low of $139.71 and a 1 year high of $251.99. The business’s fifty day moving average is $151.07 and its two-hundred day moving average is $179.57. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.36 earnings per share. On average, research analysts forecast that Biogen Inc. will post 16.43 earnings per share for the current fiscal year.

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.