J. L. Bainbridge & Co. Inc. Decreases Stock Position in Biogen Inc. (NASDAQ:BIIB)

J. L. Bainbridge & Co. Inc. lessened its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 19.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,983 shares of the biotechnology company's stock after selling 23,159 shares during the period. Biogen accounts for about 1.4% of J. L. Bainbridge & Co. Inc.'s portfolio, making the stock its 21st biggest holding. J. L. Bainbridge & Co. Inc. owned about 0.07% of Biogen worth $14,984,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new stake in shares of Biogen in the third quarter valued at about $830,000. Ashton Thomas Securities LLC acquired a new stake in shares of Biogen in the third quarter valued at about $33,000. Venturi Wealth Management LLC increased its stake in shares of Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company's stock valued at $42,000 after buying an additional 93 shares during the period. GSA Capital Partners LLP increased its stake in shares of Biogen by 44.6% in the third quarter. GSA Capital Partners LLP now owns 4,407 shares of the biotechnology company's stock valued at $854,000 after buying an additional 1,359 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Biogen by 2.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 370,128 shares of the biotechnology company's stock valued at $71,746,000 after buying an additional 9,254 shares during the period. Institutional investors and hedge funds own 87.93% of the company's stock.

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Biogen Stock Down 1.2 %

Shares of BIIB stock traded down $1.66 during trading hours on Wednesday, reaching $141.43. The company had a trading volume of 1,180,420 shares, compared to its average volume of 1,238,888. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The company has a market cap of $20.70 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The business has a fifty day simple moving average of $142.70 and a 200-day simple moving average of $163.15. 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 issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating analysts' consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the 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 approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BIIB shares. Bank of America reissued a "neutral" rating and issued a $178.00 price target on shares of Biogen in a research note on Tuesday, December 10th. HC Wainwright decreased their price target on Biogen from $300.00 to $241.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. BMO Capital Markets decreased their target price on Biogen from $156.00 to $139.00 and set a "market perform" rating for the company in a research note on Thursday, February 13th. Morgan Stanley decreased their target price on Biogen from $192.00 to $157.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Finally, StockNews.com cut Biogen from a "strong-buy" rating to a "buy" rating in a research note on Saturday, December 28th. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Biogen presently has an average rating of "Hold" and a consensus target price of $213.33.

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.