Laird Norton Wetherby Wealth Management LLC Sells 283 Shares of Biogen Inc. (NASDAQ:BIIB)

Laird Norton Wetherby Wealth Management LLC lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 9.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,762 shares of the biotechnology company’s stock after selling 283 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Biogen were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BIIB. Wealth Enhancement Advisory Services LLC raised its stake in shares of Biogen by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock worth $767,000 after buying an additional 79 shares during the period. Czech National Bank raised its stake in Biogen by 6.5% during the 4th quarter. Czech National Bank now owns 31,595 shares of the biotechnology company’s stock valued at $4,832,000 after purchasing an additional 1,923 shares during the period. Wedmont Private Capital raised its stake in Biogen by 187.2% during the 4th quarter. Wedmont Private Capital now owns 3,670 shares of the biotechnology company’s stock valued at $546,000 after purchasing an additional 2,392 shares during the period. Assenagon Asset Management S.A. raised its stake in Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after purchasing an additional 111 shares during the period. Finally, RDA Financial Network bought a new stake in Biogen during the 4th quarter valued at approximately $491,000. Institutional investors own 87.93% of the company’s stock.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction 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 transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.

Biogen Price Performance

Shares of Biogen stock opened at $123.70 on Friday. The stock has a market cap of $18.13 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock has a 50 day moving average price of $126.32 and a 200-day moving average price of $142.98. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the firm earned $3.67 EPS. Biogen’s revenue was up 6.2% compared to the same quarter last year. Equities analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research note on Friday, May 2nd. Bank Of America (Bofa) decreased their target price on Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Truist Financial decreased their target price on Biogen from $210.00 to $199.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Sanford C. Bernstein assumed coverage on Biogen in a research note on Tuesday, February 11th. They set a “market perform” rating and a $160.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Biogen from $185.00 to $175.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Twenty investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $191.30.

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.