Biogen Inc. (NASDAQ:BIIB) Shares Sold by Waldron Private Wealth LLC

Waldron Private Wealth LLC lessened its position in shares of Biogen Inc. (NASDAQ:BIIB) by 14.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,011 shares of the biotechnology company’s stock after selling 169 shares during the quarter. Waldron Private Wealth LLC’s holdings in Biogen were worth $261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Biogen by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock valued at $2,468,356,000 after buying an additional 183,285 shares during the last quarter. State Street Corp increased its position in Biogen by 2.8% during the 1st quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company’s stock worth $1,518,196,000 after purchasing an additional 197,400 shares in the last quarter. Wellington Management Group LLP raised its stake in Biogen by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock valued at $1,381,251,000 after purchasing an additional 27,951 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Biogen by 49.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company’s stock valued at $580,627,000 after purchasing an additional 691,843 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Biogen by 2.8% in the 3rd quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock valued at $422,276,000 after purchasing an additional 45,437 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Trading Down 0.8 %

Shares of BIIB opened at $195.15 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. Biogen Inc. has a 12 month low of $194.94 and a 12 month high of $319.76. The stock has a market cap of $28.37 billion, a PE ratio of 24.45, a P/E/G ratio of 1.87 and a beta of -0.02. The stock’s 50-day moving average is $218.13 and its two-hundred day moving average is $236.87.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing the consensus estimate of $3.18 by ($0.23). The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same period last year, the firm posted $4.05 earnings per share. Equities analysts forecast that Biogen Inc. will post 15.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

BIIB has been the subject of a number of analyst reports. StockNews.com lowered shares of Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $311.00 price target on shares of Biogen in a report on Tuesday, February 20th. Canaccord Genuity Group decreased their price objective on Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. Truist Financial reiterated a “buy” rating and issued a $340.00 target price on shares of Biogen in a research note on Monday, March 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $364.00 price target on shares of Biogen in a research note on Tuesday, March 5th. Ten investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $298.96.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 419 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the transaction, the insider now owns 4,516 shares in the company, valued at approximately $1,081,356.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Eric K. Rowinsky bought 455 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the transaction, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Priya Singhal sold 419 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares in the company, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 882 shares of company stock valued at $202,030. Corporate insiders own 0.60% of the company’s stock.

About Biogen

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.