Commonwealth Equity Services LLC Decreases Stock Position in Biogen Inc. (NASDAQ:BIIB)

Commonwealth Equity Services LLC cut its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BIIB. Larson Financial Group LLC lifted its position in shares of 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 during the period. OFI Invest Asset Management bought a new stake in Biogen in the fourth quarter valued at $32,000. SRS Capital Advisors Inc. acquired a new position in shares of Biogen during the fourth quarter valued at about $33,000. Golden State Wealth Management LLC bought a new position in shares of Biogen during the 4th quarter worth about $41,000. Finally, Itau Unibanco Holding S.A. grew its stake in shares of Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company's stock valued at $45,000 after buying an additional 90 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Insider Activity 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 value of $1,314,175.20. Following the completion of the sale, the director now owns 11,318 shares of the company's stock, valued at $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by insiders.

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Analyst Ratings Changes

A number of research analysts recently weighed in on BIIB shares. Citigroup dropped their price target on Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a research report on Thursday, February 13th. Royal Bank of Canada reduced their price target on shares of Biogen from $231.00 to $225.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. William Blair restated an "outperform" rating on shares of Biogen in a report on Monday, January 13th. Finally, Canaccord Genuity Group dropped their price objective on shares of Biogen from $298.00 to $265.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Biogen currently has a consensus rating of "Hold" and a consensus price target of $213.33.

Biogen Price Performance

Shares of NASDAQ BIIB traded down $1.68 during midday trading on Tuesday, hitting $139.92. 805,401 shares of the company's stock were exchanged, compared to its average volume of 1,563,492. 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 business's fifty day moving average price is $141.99 and its two-hundred day moving average price is $161.38. The company has a market cap of $20.48 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS 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, research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal 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.