Baird Financial Group Inc. Has $1.32 Million Position in Biogen Inc. (NASDAQ:BIIB)

Baird Financial Group Inc. cut its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 70.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,660 shares of the biotechnology company's stock after selling 20,782 shares during the quarter. Baird Financial Group Inc.'s holdings in Biogen were worth $1,324,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lee Danner & Bass Inc. bought a new position in shares of Biogen in the 4th quarter worth $25,000. Larson Financial Group LLC increased its position in Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after acquiring an additional 141 shares during the period. SRS Capital Advisors Inc. acquired a new stake in Biogen during the fourth quarter worth about $33,000. OFI Invest Asset Management acquired a new stake in shares of Biogen in the 4th quarter valued at approximately $32,000. Finally, Golden State Wealth Management LLC acquired a new stake in Biogen during the 4th quarter worth approximately $41,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Truist Financial reduced their price target on shares of Biogen from $210.00 to $199.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Royal Bank of Canada decreased their price target on Biogen from $217.00 to $205.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Canaccord Genuity Group cut their target price on Biogen from $265.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. JPMorgan Chase & Co. dropped their price objective on Biogen from $185.00 to $175.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Finally, 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 report on Thursday, February 13th. Twenty research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $191.30.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction 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 in the company, valued at $1,697,926.36. This represents a 43.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.16% of the company's stock.

Biogen Trading Up 1.5%

Biogen stock traded up $1.89 during midday trading on Friday, reaching $125.59. The stock had a trading volume of 1,803,229 shares, compared to its average volume of 1,381,048. The stock's 50-day simple moving average is $125.96 and its 200 day simple moving average is $142.58. The stock has a market capitalization of $18.40 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a return on equity of 14.98% and a net margin of 16.87%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the firm posted $3.67 EPS. The company's revenue was up 6.2% compared to the same quarter last year. Analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

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.