Investment House LLC Cuts Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Investment House LLC lessened its holdings in Biogen Inc. (NASDAQ:BIIB) by 2.0% in the 4th quarter, Holdings Channel.com reports. The firm 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BIIB. ICICI Prudential Asset Management Co Ltd lifted its holdings in Biogen by 15.0% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock worth $9,313,000 after buying an additional 4,693 shares during the period. Boone Capital Management LLC grew its stake in Biogen by 52.9% in the third quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock valued at $24,703,000 after purchasing an additional 33,238 shares during the last quarter. iA Global Asset Management Inc. raised its holdings in Biogen by 35.2% in the third quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock worth $3,102,000 after purchasing an additional 3,145 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Biogen by 13.8% during the third quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock valued at $17,577,000 after buying an additional 8,291 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its holdings in shares of Biogen by 6.2% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock valued at $1,251,000 after buying an additional 285 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Insider Activity

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

Biogen Stock Down 0.3 %

Shares of BIIB stock opened at $214.91 on Tuesday. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $319.76. The stock has a market cap 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. The stock has a 50 day moving average of $212.48 and a 200 day moving average of $233.02. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the firm posted $3.40 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, sell-side analysts expect that Biogen Inc. will post 15.57 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on BIIB shares. Bank Of America (Bofa) cut their price target on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. HC Wainwright dropped their target price on Biogen from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. BTIG Research reiterated a “neutral” rating on shares of Biogen in a research note on Sunday, January 7th. StockNews.com lowered Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. Finally, BMO Capital Markets decreased their price objective on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $293.88.

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.