Biogen Inc. (NASDAQ:BIIB) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC reduced its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 78.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,811 shares of the biotechnology company's stock after selling 9,997 shares during the period. Townsquare Capital LLC's holdings in Biogen were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Lee Danner & Bass Inc. acquired a new stake in shares of Biogen during the 4th quarter worth approximately $25,000. Larson Financial Group LLC boosted its holdings 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 in the last quarter. SRS Capital Advisors Inc. bought a new position in shares of Biogen in the 4th quarter valued at $33,000. OFI Invest Asset Management acquired a new position in shares of Biogen during the 4th quarter worth $32,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Biogen during the 4th quarter worth $41,000. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Down 0.6 %

Shares of NASDAQ:BIIB traded down $0.74 on Friday, reaching $118.77. The company had a trading volume of 383,045 shares, compared to its average volume of 1,348,993. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $17.38 billion, a PE ratio of 10.59, a PEG ratio of 1.51 and a beta of 0.06. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $238.00. The firm's 50 day simple moving average is $132.82 and its 200-day simple moving average is $149.83.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BIIB shares. Wells Fargo & Company lowered their price target on shares of Biogen from $165.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. Truist Financial cut their price target on Biogen from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a research note on Friday. Argus downgraded shares of Biogen from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, StockNews.com cut shares of Biogen from a "strong-buy" rating to a "buy" rating in a research report on Saturday, December 28th. Eighteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $211.37.

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.