4,772 Shares in Biogen Inc. (NASDAQ:BIIB) Bought by First County Bank CT

First County Bank CT purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,772 shares of the biotechnology company's stock, valued at approximately $653,000.

Other hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC grew its holdings in shares of Biogen by 37.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,286 shares of the biotechnology company's stock worth $350,000 after buying an additional 624 shares in the last quarter. Flagship Harbor Advisors LLC grew its holdings in shares of Biogen by 11.1% during the fourth quarter. Flagship Harbor Advisors LLC now owns 1,553 shares of the biotechnology company's stock worth $237,000 after buying an additional 155 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Biogen by 39.0% during the fourth quarter. Blue Trust Inc. now owns 656 shares of the biotechnology company's stock worth $100,000 after buying an additional 184 shares in the last quarter. KBC Group NV grew its holdings in shares of Biogen by 0.8% during the fourth quarter. KBC Group NV now owns 33,490 shares of the biotechnology company's stock worth $5,121,000 after buying an additional 261 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Biogen during the fourth quarter worth about $121,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen 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 transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.16% of the company's stock.

Biogen Stock Performance

NASDAQ:BIIB traded down $1.64 during mid-day trading on Friday, hitting $131.11. 3,640,026 shares of the stock were exchanged, compared to its average volume of 1,411,593. The stock has a market capitalization of $19.21 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12. 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 firm's 50-day simple moving average is $123.43 and its 200 day simple moving average is $139.25. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $238.00.

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

Wall Street Analyst Weigh In

BIIB has been the subject of a number of research reports. Truist Financial decreased their price objective on Biogen from $210.00 to $199.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Argus downgraded Biogen from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Wells Fargo & Company decreased their price target on Biogen from $165.00 to $140.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. HC Wainwright decreased their price target on Biogen from $241.00 to $187.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Biogen from $185.00 to $175.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Twenty equities research 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 company currently has an average rating of "Hold" and a consensus target price of $191.30.

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.