CWM LLC boosted its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 79.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,143 shares of the biotechnology company's stock after acquiring an additional 12,418 shares during the quarter. CWM LLC's holdings in Biogen were worth $3,851,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Integrated Quantitative Investments LLC bought a new position in Biogen during the 4th quarter valued at $407,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Biogen by 6.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company's stock worth $57,057,000 after acquiring an additional 25,464 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Biogen by 5.5% in the first quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company's stock worth $8,405,000 after buying an additional 3,194 shares during the period. APG Asset Management N.V. boosted its position in shares of Biogen by 346.1% in the fourth quarter. APG Asset Management N.V. now owns 105,446 shares of the biotechnology company's stock worth $15,572,000 after buying an additional 81,811 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of Biogen by 36.1% during the fourth quarter. Prudential Financial Inc. now owns 576,276 shares of the biotechnology company's stock worth $88,124,000 after acquiring an additional 152,992 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Biogen
In related news, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the transaction, the insider owned 6,330 shares of the company's stock, valued at $854,550. This trade represents a 25.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company's stock.
Biogen Price Performance
NASDAQ:BIIB traded down $3.70 during mid-day trading on Friday, reaching $124.99. The stock had a trading volume of 1,524,813 shares, compared to its average volume of 1,449,178. The stock has a 50-day simple moving average of $129.18 and a two-hundred day simple moving average of $133.31. The stock has a market capitalization of $18.31 billion, a PE ratio of 12.34, a P/E/G ratio of 1.03 and a beta of 0.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.01. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $236.48.
Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 15.07% and a return on equity of 14.03%. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the business earned $3.67 EPS. The business's quarterly revenue was up 6.2% on a year-over-year basis. On average, equities analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.
Analyst Ratings Changes
Several brokerages have recently issued reports on BIIB. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a research report on Thursday, June 12th. Truist Financial lowered their price target on Biogen from $210.00 to $199.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Piper Sandler reaffirmed a "neutral" rating and issued a $115.00 price target on shares of Biogen in a research report on Thursday, June 12th. HC Wainwright reaffirmed a "buy" rating and issued a $187.00 price target on shares of Biogen in a research report on Thursday, June 26th. Finally, Hsbc Global Res downgraded Biogen from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Twenty research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $188.48.
Get Our Latest Stock Analysis on Biogen
Biogen Profile
(
Free Report)
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.
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