Stifel Financial Corp Lowers Stock Position in Biogen Inc. (NASDAQ:BIIB)

Stifel Financial Corp trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 73.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,756 shares of the biotechnology company’s stock after selling 34,798 shares during the quarter. Stifel Financial Corp’s holdings in Biogen were worth $1,951,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BIIB. Larson Financial Group LLC boosted its position in Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 141 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in Biogen during the fourth quarter valued at about $25,000. OFI Invest Asset Management purchased a new position in Biogen in the fourth quarter valued at about $32,000. SRS Capital Advisors Inc. bought a new position in Biogen in the fourth quarter worth about $33,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Biogen during the fourth quarter valued at about $41,000. Institutional investors own 87.93% of the company’s stock.

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Biogen in a research note on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price objective for the company. Royal Bank of Canada reduced their price target on Biogen from $217.00 to $205.00 and set an “outperform” rating on the stock in a research report on Friday. Robert W. Baird lowered their price objective on Biogen from $300.00 to $255.00 and set an “outperform” rating for the company in a research report on Friday. JPMorgan Chase & Co. reduced their target price on Biogen from $185.00 to $175.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, HSBC downgraded Biogen from a “buy” rating to a “hold” rating and set a $118.00 price target for the company. in a report on Monday, April 28th. Twenty investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Biogen currently has an average rating of “Hold” and a consensus target price of $194.56.

Biogen Stock Down 1.4 %

BIIB stock opened at $121.80 on Tuesday. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The firm’s fifty day moving average is $130.21 and its 200 day moving average is $145.97. The firm has a market cap of $17.83 billion, a PE ratio of 10.88, a P/E/G ratio of 1.51 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.25 billion. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Biogen’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business earned $3.67 earnings per share. On average, research analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

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.