Epoch Investment Partners Inc. Sells 275,885 Shares of Biogen Inc. (NASDAQ:BIIB)

Epoch Investment Partners Inc. decreased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 99.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,339 shares of the biotechnology company’s stock after selling 275,885 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Biogen were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of BIIB. Livelsberger Financial Advisory acquired a new stake in shares of Biogen during the 4th quarter worth approximately $26,000. Rise Advisors LLC acquired a new stake in Biogen in the 1st quarter valued at $27,000. Hexagon Capital Partners LLC grew its position in Biogen by 76.1% in the 4th 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 during the period. EntryPoint Capital LLC acquired a new stake in Biogen in the 1st quarter valued at $36,000. Finally, Atticus Wealth Management LLC acquired a new stake in Biogen in the 1st quarter valued at $43,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BIIB shares. HSBC lifted their price target on shares of Biogen from $339.00 to $342.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Piper Sandler reduced their price target on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $317.00 price target on shares of Biogen in a research report on Wednesday, June 26th. Truist Financial reissued a “buy” rating and issued a $340.00 price target on shares of Biogen in a research report on Thursday, May 16th. Finally, William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and an average target price of $284.22.

Biogen Stock Performance

Biogen stock traded down $16.27 during midday trading on Friday, reaching $211.17. The stock had a trading volume of 2,256,077 shares, compared to its average volume of 868,124. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $278.95. The firm’s 50-day moving average price is $226.29 and its 200 day moving average price is $224.29. The firm has a market capitalization of $30.75 billion, a PE ratio of 26.36, a P/E/G ratio of 2.13 and a beta of -0.04. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41.

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