Biogen Inc. (NASDAQ:BIIB) Position Trimmed by MML Investors Services LLC

MML Investors Services LLC lessened its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 26.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,515 shares of the biotechnology company's stock after selling 2,765 shares during the quarter. MML Investors Services LLC's holdings in Biogen were worth $1,149,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BIIB. Larson Financial Group LLC lifted its position in Biogen by 640.9% during the 4th 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. Lee Danner & Bass Inc. acquired a new stake in shares of Biogen during the fourth quarter worth $25,000. OFI Invest Asset Management purchased a new position in Biogen in the 4th quarter valued at $32,000. SRS Capital Advisors Inc. acquired a new position in Biogen in the 4th quarter valued at $33,000. Finally, Golden State Wealth Management LLC purchased a new position in Biogen during the 4th quarter worth $41,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BIIB shares. Needham & Company LLC restated a "hold" rating on shares of Biogen in a research report on Friday. Wells Fargo & Company dropped their price objective on Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group reduced their target price on Biogen from $219.00 to $197.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Robert W. Baird lowered their price target on shares of Biogen from $300.00 to $255.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, Scotiabank decreased their price objective on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a report on Thursday, February 13th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Biogen currently has a consensus rating of "Hold" and a consensus target price of $195.85.

Biogen Trading Up 2.2 %

Shares of BIIB traded up $2.60 during trading hours on Friday, hitting $123.53. The stock had a trading volume of 1,460,036 shares, compared to its average volume of 1,356,243. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $238.00. The firm has a market cap of $18.08 billion, a P/E ratio of 11.04, a P/E/G ratio of 1.51 and a beta of 0.13. 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 company's fifty day simple moving average is $130.58 and its 200 day simple moving average is $146.75.

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

Insider Activity

In related 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 directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company's stock.

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.