Biogen Inc. (NASDAQ:BIIB) Stock Position Lowered by Sector Gamma AS

Sector Gamma AS lessened its position in shares of Biogen Inc. (NASDAQ:BIIB) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 102,234 shares of the biotechnology company’s stock after selling 2,052 shares during the period. Biogen makes up approximately 6.4% of Sector Gamma AS’s holdings, making the stock its 4th largest holding. Sector Gamma AS’s holdings in Biogen were worth $26,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP increased its holdings in Biogen by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock worth $1,381,251,000 after acquiring an additional 27,951 shares during the period. Northern Trust Corp increased its holdings in Biogen by 2.8% during the 3rd quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock worth $422,276,000 after acquiring an additional 45,437 shares during the period. Morgan Stanley increased its holdings in Biogen by 4.3% during the 3rd quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock worth $383,745,000 after acquiring an additional 61,814 shares during the period. Van ECK Associates Corp increased its holdings in Biogen by 24.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,189,546 shares of the biotechnology company’s stock worth $305,725,000 after acquiring an additional 233,889 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Biogen by 19.1% in the 3rd quarter. Invesco Ltd. now owns 1,181,374 shares of the biotechnology company’s stock worth $303,625,000 after buying an additional 189,368 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Eric K. Rowinsky bought 455 shares of the stock in a transaction dated Thursday, February 15th. The shares were purchased at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Priya Singhal sold 419 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the transaction, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. Insiders have sold 882 shares of company stock valued at $202,030 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

Biogen Stock Up 3.2 %

NASDAQ:BIIB traded up $6.44 on Friday, reaching $208.90. 1,894,098 shares of the stock traded hands, compared to its average volume of 1,185,437. The company’s fifty day simple moving average is $212.55 and its 200 day simple moving average is $233.78. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $319.76. The company has a market capitalization of $30.42 billion, a price-to-earnings ratio of 26.08, a PEG 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 results on Wednesday, April 24th. The biotechnology company reported $3.67 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 during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the business posted $3.40 earnings per share. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. Equities analysts predict that Biogen Inc. will post 15.55 EPS for the current fiscal year.

Analyst Ratings Changes

BIIB has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $294.00 price target on shares of Biogen in a report on Wednesday. StockNews.com lowered shares of Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Piper Sandler decreased their price target on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Robert W. Baird reduced their target price on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $311.00 target price on shares of Biogen in a report on Tuesday, February 20th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $293.88.

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.