Coldstream Capital Management Inc. lessened its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 17.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 816 shares of the biotechnology company’s stock after selling 177 shares during the period. Coldstream Capital Management Inc.’s holdings in Biogen were worth $258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Biogen in the fourth quarter valued at approximately $716,195,000. Primecap Management Co. CA lifted its position in shares of Biogen by 5.1% during the 1st quarter. Primecap Management Co. CA now owns 15,965,989 shares of the biotechnology company’s stock worth $5,051,320,000 after buying an additional 776,508 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Biogen by 279.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 860,123 shares of the biotechnology company’s stock valued at $255,223,000 after buying an additional 633,249 shares in the last quarter. APG Asset Management N.V. grew its position in shares of Biogen by 155.5% in the 1st quarter. APG Asset Management N.V. now owns 730,430 shares of the biotechnology company’s stock valued at $153,769,000 after buying an additional 444,508 shares during the last quarter. Finally, Orbimed Advisors LLC raised its stake in Biogen by 644.8% during the 1st quarter. Orbimed Advisors LLC now owns 480,400 shares of the biotechnology company’s stock worth $151,989,000 after acquiring an additional 415,900 shares in the last quarter. 87.45% of the stock is currently owned by institutional investors and hedge funds.

BIIB has been the topic of a number of research analyst reports. Sanford C. Bernstein cut Biogen from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $360.00 to $297.00 in a research report on Tuesday, June 9th. Morgan Stanley reaffirmed a “sell” rating and issued a $301.00 target price on shares of Biogen in a report on Thursday, May 28th. Mizuho reiterated a “hold” rating and set a $316.00 target price on shares of Biogen in a research note on Thursday, June 18th. Oppenheimer dropped their price objective on shares of Biogen from $390.00 to $365.00 and set an “outperform” rating on the stock in a research note on Thursday, April 23rd. Finally, SVB Leerink reiterated an “outperform” rating on shares of Biogen in a research report on Wednesday, April 8th. Seven research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. Biogen currently has a consensus rating of “Hold” and an average target price of $306.50.

BIIB traded down $2.12 during trading on Friday, reaching $260.51. 486,632 shares of the company were exchanged, compared to its average volume of 2,143,151. Biogen Inc has a 52 week low of $215.77 and a 52 week high of $374.99. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.39. The firm has a 50 day moving average of $298.35 and a 200 day moving average of $302.98. The stock has a market cap of $42.92 billion, a P/E ratio of 8.11, a PEG ratio of 0.57 and a beta of 0.54.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 22nd. The biotechnology company reported $9.14 EPS for the quarter, topping the consensus estimate of $7.73 by $1.41. Biogen had a net margin of 40.76% and a return on equity of 49.22%. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same quarter in the prior year, the firm earned $6.98 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, analysts forecast that Biogen Inc will post 33.15 earnings per share for the current fiscal year.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

Read More: Outstanding Shares and The Effect on Share Price

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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