Brown Advisory Inc. Trims Stock Position in Biogen Inc. (NASDAQ:BIIB)

Brown Advisory Inc. cut its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 97.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,257 shares of the biotechnology company's stock after selling 340,309 shares during the period. Brown Advisory Inc.'s holdings in Biogen were worth $993,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BIIB. Lee Danner & Bass Inc. bought a new position in Biogen in the fourth quarter worth about $25,000. Opal Wealth Advisors LLC bought a new position in shares of Biogen during the first quarter valued at approximately $26,000. Colonial Trust Co SC increased its stake in shares of Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 186 shares in the last quarter. Private Trust Co. NA increased its stake in shares of Biogen by 74.8% during the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 98 shares in the last quarter. Finally, CVA Family Office LLC increased its stake in shares of Biogen by 71.1% during the first quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 96 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Performance

Shares of BIIB traded up $1.48 during trading hours on Wednesday, reaching $128.98. 521,415 shares of the company traded hands, compared to its average volume of 1,441,347. The stock has a market capitalization of $18.90 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.06 and a beta of 0.14. The company has a quick ratio of 1.01, a current ratio of 1.44 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $236.48. The business has a fifty day moving average price of $128.61 and a 200-day moving average price of $133.68.

Biogen (NASDAQ:BIIB - Get Free Report) last posted 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 net margin of 15.07% and a return on equity of 14.03%. The business had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.25 billion. During the same period in the previous year, the company posted $3.67 earnings per share. Biogen's revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Ratings Changes

BIIB has been the topic of several research reports. The Goldman Sachs Group dropped their target price on shares of Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley decreased their target price on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Canaccord Genuity Group decreased their target price on shares of 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. decreased their target price on shares of Biogen from $185.00 to $175.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Finally, HC Wainwright reiterated a "buy" rating and set a $187.00 target price on shares of Biogen in a research note on Thursday, June 26th. Twenty analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $188.48.

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.