Biogen Inc. (NASDAQ:BIIB) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its position in Biogen Inc. (NASDAQ:BIIB) by 4.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,193 shares of the biotechnology company’s stock after selling 286 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Biogen were worth $847,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Amundi increased its holdings in shares of Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after acquiring an additional 319,478 shares during the period. Integrated Quantitative Investments LLC bought a new position in Biogen in the 4th quarter valued at about $407,000. Daiwa Securities Group Inc. grew its position in Biogen by 17.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 37,221 shares of the biotechnology company’s stock valued at $5,692,000 after buying an additional 5,627 shares in the last quarter. State of Michigan Retirement System grew its position in Biogen by 59.9% in the 4th quarter. State of Michigan Retirement System now owns 63,503 shares of the biotechnology company’s stock valued at $9,711,000 after buying an additional 23,800 shares in the last quarter. Finally, APG Asset Management N.V. grew its position in Biogen by 346.1% in the 4th quarter. APG Asset Management N.V. now owns 105,446 shares of the biotechnology company’s stock valued at $15,572,000 after buying an additional 81,811 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of Biogen stock opened at $126.08 on Friday. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $238.00. The company has a quick ratio of 1.01, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock has a market cap of $18.47 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.00 and a beta of 0.14. The business has a fifty day simple moving average of $125.68 and a 200-day simple moving average of $135.32.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a return on equity of 14.03% and a net margin of 15.07%. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the prior year, the company posted $3.67 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BIIB shares. The Goldman Sachs Group decreased their target price on shares of Biogen from $219.00 to $197.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Royal Bank Of Canada set a $213.00 target price on shares of Biogen and gave the company an “outperform” rating in a research report on Wednesday. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research report on Thursday, June 12th. Wedbush reiterated a “neutral” rating and issued a $121.00 target price on shares of Biogen in a research report on Thursday, June 12th. Finally, Morgan Stanley decreased their target price on shares of Biogen from $157.00 to $152.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Biogen currently has an average rating of “Hold” and a consensus target price of $188.48.

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.