Cresset Asset Management LLC Has $205,000 Stock Position in Biogen Inc. (NASDAQ:BIIB)

Cresset Asset Management LLC trimmed its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 80.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,341 shares of the biotechnology company's stock after selling 5,533 shares during the quarter. Cresset Asset Management LLC's holdings in Biogen were worth $205,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction on 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.16% of the company's stock.

Biogen Trading Down 0.4%

NASDAQ:BIIB traded down $0.52 during mid-day trading on Thursday, hitting $126.30. The company had a trading volume of 937,000 shares, compared to its average volume of 1,392,032. 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 fifty-two week low of $110.04 and a fifty-two week high of $238.00. The firm has a market cap of $18.51 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.51 and a beta of 0.12. The business's fifty day moving average is $125.30 and its two-hundred day moving average is $141.60.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 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 company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the company earned $3.67 earnings per share. The business's revenue was up 6.2% compared to the same quarter last year. As a group, research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Wall Street Analyst Weigh In

BIIB has been the topic of several recent analyst reports. Sanford C. Bernstein initiated coverage on shares of Biogen in a research note on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 target price on the stock. BMO Capital Markets decreased their price objective on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating on the stock in a research note on Thursday, February 13th. Wells Fargo & Company cut their target price on shares of Biogen from $165.00 to $140.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Mizuho decreased their price target on Biogen from $207.00 to $169.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Morgan Stanley cut their price objective on Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $191.30.

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.