Biogen Inc. (NASDAQ:BIIB) Position Decreased by Investment House LLC

Investment House LLC reduced its holdings in Biogen Inc. (NASDAQ:BIIB) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,269 shares of the biotechnology company’s stock after selling 67 shares during the quarter. Investment House LLC’s holdings in Biogen were worth $846,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. AE Wealth Management LLC grew its holdings in shares of Biogen by 31.4% in the 3rd quarter. AE Wealth Management LLC now owns 1,666 shares of the biotechnology company’s stock worth $428,000 after acquiring an additional 398 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in Biogen by 28.5% during the 3rd quarter. DAVENPORT & Co LLC now owns 1,360 shares of the biotechnology company’s stock worth $350,000 after buying an additional 302 shares during the period. Valeo Financial Advisors LLC raised its holdings in Biogen by 9.3% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,243 shares of the biotechnology company’s stock worth $319,000 after buying an additional 106 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Biogen by 1.9% in the third quarter. Commonwealth Equity Services LLC now owns 23,416 shares of the biotechnology company’s stock worth $6,018,000 after buying an additional 433 shares during the period. Finally, Compagnie Lombard Odier SCmA increased its position in shares of Biogen by 116.2% in the third quarter. Compagnie Lombard Odier SCmA now owns 400 shares of the biotechnology company’s stock worth $103,000 after acquiring an additional 215 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $294.00 price objective on shares of Biogen in a research note on Wednesday, April 24th. Barclays lowered their price target on Biogen from $215.00 to $200.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Piper Sandler dropped their price target on Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. StockNews.com lowered Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Finally, Mizuho lowered their target price on Biogen from $355.00 to $277.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $293.88.

Insider Activity

In related news, Director Eric K. Rowinsky acquired 455 shares of the stock in a transaction dated Thursday, February 15th. The shares were bought at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the purchase, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, the insider now directly owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric K. Rowinsky acquired 455 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was acquired 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 in the company, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 882 shares of company stock worth $202,030. 0.60% of the stock is currently owned by corporate insiders.

Biogen Stock Down 0.3 %

Shares of BIIB opened at $214.91 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10. The company has a 50-day simple moving average of $212.48 and a 200-day simple moving average of $233.02. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76. The firm has a market capitalization of $31.29 billion, a P/E ratio of 26.90, a P/E/G ratio of 2.13 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the company earned $3.40 EPS. On average, equities research analysts expect that Biogen Inc. will post 15.57 earnings per share for the current 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.