Wells Fargo & Company MN Has $16.98 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Wells Fargo & Company MN decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 46.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,043 shares of the biotechnology company's stock after selling 95,427 shares during the quarter. Wells Fargo & Company MN owned about 0.08% of Biogen worth $16,981,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in shares of Biogen by 3.5% during the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company's stock worth $320,000 after purchasing an additional 71 shares in the last quarter. Quent Capital LLC lifted its position in Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock worth $46,000 after acquiring an additional 72 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company's stock worth $75,000 after acquiring an additional 77 shares during the period. Principal Securities Inc. grew its position in Biogen by 30.1% in the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock valued at $52,000 after acquiring an additional 78 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Biogen by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company's stock valued at $767,000 after purchasing an additional 79 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. William Blair restated an "outperform" rating on shares of Biogen in a research note on Monday, January 13th. HC Wainwright decreased their price objective on shares of Biogen from $300.00 to $241.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Piper Sandler reaffirmed a "neutral" rating and set a $135.00 target price (down from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Canaccord Genuity Group cut their price target on Biogen from $298.00 to $265.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Finally, Truist Financial lowered their price objective on Biogen from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Eighteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Biogen currently has a consensus rating of "Hold" and a consensus price target of $213.15.

Biogen Stock Performance

Shares of NASDAQ:BIIB traded up $3.32 on Friday, hitting $118.61. The company's stock had a trading volume of 1,206,280 shares, compared to its average volume of 1,355,013. The company has a market capitalization of $17.36 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. 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 Inc. has a 12 month low of $110.04 and a 12 month high of $238.00. The stock's 50-day moving average is $134.29 and its two-hundred day moving average is $151.69.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, equities research analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

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.