Biogen Inc. (NASDAQ:BIIB) Holdings Raised by Rhumbline Advisers

Rhumbline Advisers grew its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 296,294 shares of the biotechnology company's stock after buying an additional 27,703 shares during the period. Rhumbline Advisers owned 0.20% of Biogen worth $40,545,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Larson Financial Group LLC grew its position in shares of Biogen by 640.9% in the fourth 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. purchased a new stake in shares of Biogen in the fourth quarter valued at $25,000. Colonial Trust Co SC grew its position in shares of Biogen by 9,300.0% in 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 during the period. OFI Invest Asset Management purchased a new stake in shares of Biogen in the fourth quarter valued at $32,000. Finally, SRS Capital Advisors Inc. purchased a new stake in shares of Biogen in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 87.93% of the company's stock.

Insider Buying and Selling

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now owns 11,318 shares of the company's stock, valued at $1,697,926.36. This trade represents a 43.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.16% of the company's stock.

Biogen Stock Down 1.1%

Shares of NASDAQ:BIIB traded down $1.50 during trading on Thursday, hitting $130.36. The company's stock had a trading volume of 1,235,239 shares, compared to its average volume of 1,416,935. 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 stock's 50-day moving average price is $122.91 and its two-hundred day moving average price is $138.77. The company has a market capitalization of $19.10 billion, a PE ratio of 11.65, a PEG ratio of 1.51 and a beta of 0.12.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BIIB shares. Argus downgraded Biogen from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Piper Sandler reduced their target price on Biogen from $135.00 to $115.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Wells Fargo & Company reduced their target price on Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday, February 13th. Citigroup reduced their target price on Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Finally, Morgan Stanley reduced their target price on Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Twenty analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Biogen presently has an average 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.