Biogen Inc. (NASDAQ:BIIB) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,292 shares of the biotechnology company’s stock after selling 2,051 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Biogen were worth $4,021,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BIIB. Commerce Bank raised its stake in shares of Biogen by 11.4% in the 3rd quarter. Commerce Bank now owns 9,915 shares of the biotechnology company’s stock valued at $1,922,000 after acquiring an additional 1,014 shares during the period. Advisors Asset Management Inc. lifted its stake in Biogen by 2.2% during the third quarter. Advisors Asset Management Inc. now owns 6,696 shares of the biotechnology company’s stock worth $1,298,000 after purchasing an additional 147 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Biogen by 29.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 711,184 shares of the biotechnology company’s stock valued at $137,856,000 after buying an additional 162,511 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after buying an additional 12,319 shares in the last quarter. Finally, Raymond James Trust N.A. raised its holdings in shares of Biogen by 2.7% in the 3rd quarter. Raymond James Trust N.A. now owns 2,993 shares of the biotechnology company’s stock valued at $580,000 after buying an additional 80 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group dropped their target price on Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. BMO Capital Markets cut their target price on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research note on Thursday, February 13th. Bank Of America (Bofa) decreased their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Morgan Stanley cut their price objective on Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Finally, Jefferies Financial Group lowered Biogen from a “buy” rating to a “hold” rating and decreased their target price for the company from $250.00 to $180.00 in a report on Monday, December 9th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $213.33.

Biogen Price Performance

BIIB stock opened at $140.90 on Monday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $20.62 billion, a P/E ratio of 12.59, a PEG ratio of 1.51 and a beta of 0.01. The business has a 50 day simple moving average of $142.16 and a 200-day simple moving average of $161.81. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Insider Transactions at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

Biogen 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.