AMI Asset Management Corp cut its stake in shares of Biogen Inc (NASDAQ:BIIB) by 17.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 86,879 shares of the biotechnology company’s stock after selling 18,545 shares during the period. Biogen accounts for 1.8% of AMI Asset Management Corp’s portfolio, making the stock its 25th largest position. AMI Asset Management Corp’s holdings in Biogen were worth $26,615,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Atria Investments boosted its position in Biogen by 27.3% in the fourth quarter. Atria Investments now owns 900 shares of the biotechnology company’s stock valued at $253,000 after buying an additional 193 shares during the period. Detwiler Fenton Investment Management bought a new position in Biogen during the fourth quarter valued at about $266,000. Dillon & Associates Inc. boosted its position in Biogen by 5.9% in the fourth quarter. Dillon & Associates Inc. now owns 1,170 shares of the biotechnology company’s stock valued at $358,000 after buying an additional 65 shares during the period. CUE Financial Group boosted its position in Biogen by 24.7% in the fourth quarter. CUE Financial Group now owns 1,222 shares of the biotechnology company’s stock valued at $374,000 after buying an additional 242 shares during the period. Finally, Filament bought a new position in Biogen during the fourth quarter valued at about $447,000.

Shares of Biogen Inc (NASDAQ:BIIB) opened at 273.06 on Friday. The firm has a market capitalization of $60.18 billion and a price-to-earnings ratio of 17.80. The firm has a 50-day moving average of $285.04 and a 200 day moving average of $298.99. Biogen Inc has a 52-week low of $254.00 and a 52-week high of $480.18.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, January 27th. The biotechnology company reported $4.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.08 by $0.42. The company earned $2.84 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the firm posted $4.09 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Analysts predict that Biogen Inc will post $18.40 EPS for the current year.

A number of analysts recently weighed in on the stock. Cowen and Company restated an “outperform” rating and set a $368.00 target price on shares of Biogen in a report on Thursday, October 22nd. Standpoint Research assumed coverage on shares of Biogen in a report on Thursday, January 7th. They set a “buy” rating and a $360.00 target price for the company. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $337.17 target price for the company. in a report on Monday, December 28th. Zacks Investment Research cut shares of Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, October 27th. Finally, Wells Fargo assumed coverage on shares of Biogen in a report on Thursday, December 3rd. They set an “outperform” rating for the company. Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $375.29.

In other Biogen news, CMO Alfred Sandrock sold 441 shares of Biogen stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $277.00, for a total value of $122,157.00. Following the transaction, the chief marketing officer now owns 7,740 shares of the company’s stock, valued at $2,143,980. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Biogen Inc., formerly Biogen Idec Inc., is a global biopharmaceutical company. The Company is focused on discovering, developing, manufacturing and delivering therapies for neurological, autoimmune and hematologic disorders. The Company develops, manufactures and markets products designed for the treatment of multiple sclerosis (NASDAQ:BIIB) and hemophilia A and B. The Company’s marketed products include AVONEX, PLEGRIDY, TECFIDERA, TYSABRI, FAMPYRA for multiple sclerosis (MS), ALPROLIX for hemophilia B, and ELOCTATE for hemophilia A, among others. It also collaborates on the development and commercialization of RITUXAN (rituximab), which is a monoclonal antibody for the treatment of non-Hodgkin’s lymphoma, chronic lymphocytic leukemia and other conditions and share profits and losses for GAZYVA, which is for the treatment of chronic lymphocytic leukemia.

12 Month Chart for NASDAQ:BIIB

Frustrated with your broker? Are you tired of paying high fees? Do you feel like you are getting ripped off by your stock broker? It's time for a change. Find out which brokerage is best for your personal trading style at the InvestorPlace Broker Center. Compare brokers at a glance in the InvestorPlace Broker Center (Click Here).

Receive News & Ratings for Biogen Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc and related companies with MarketBeat.com's FREE daily email newsletter.