Biogen Inc. (NASDAQ:BIIB) Shares Sold by Sector Gamma AS

Sector Gamma AS trimmed its stake in Biogen Inc. (NASDAQ:BIIB) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,234 shares of the biotechnology company’s stock after selling 2,052 shares during the quarter. Biogen makes up 6.4% of Sector Gamma AS’s portfolio, making the stock its 4th biggest holding. Sector Gamma AS owned approximately 0.07% of Biogen worth $26,455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in BIIB. Stratos Wealth Partners LTD. increased its stake in Biogen by 1.1% in the third quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock valued at $1,036,000 after purchasing an additional 42 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Biogen by 2.3% in the third quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock valued at $525,000 after purchasing an additional 45 shares during the last quarter. PAX Financial Group LLC increased its stake in Biogen by 2.9% in the third quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock valued at $405,000 after purchasing an additional 45 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in Biogen by 2.4% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock valued at $502,000 after purchasing an additional 45 shares during the last quarter. Finally, Ballentine Partners LLC increased its stake in Biogen by 3.2% in the third quarter. Ballentine Partners LLC now owns 1,528 shares of the biotechnology company’s stock valued at $393,000 after purchasing an additional 48 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Up 3.2 %

NASDAQ BIIB traded up $6.44 on Friday, hitting $208.90. 1,894,098 shares of the stock traded hands, compared to its average volume of 1,185,437. The stock has a 50-day moving average of $212.55 and a 200 day moving average of $233.78. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $319.76. The company has a market capitalization of $30.42 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 2.06 and a beta of -0.02. The company has a current ratio of 2.10, a quick ratio of 1.26 and a debt-to-equity ratio of 0.41.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.22. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. Biogen’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.40 earnings per share. As a group, analysts expect that Biogen Inc. will post 15.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on BIIB. Piper Sandler lowered their price target on Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Canaccord Genuity Group lowered their price target on Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. Bank of America lowered their price target on Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Wells Fargo & Company downgraded Biogen from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $315.00 to $240.00 in a research report on Wednesday, February 14th. Finally, Barclays lowered their price target on Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Biogen presently has a consensus rating of “Moderate Buy” and a consensus target price of $293.88.

Insider Transactions at Biogen

In related news, Director Eric K. Rowinsky purchased 455 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the transaction, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Priya Singhal sold 419 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the transaction, the insider now directly owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 882 shares of company stock worth $202,030. 0.60% of the stock is currently owned by company insiders.

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.