Biogen Inc. (NASDAQ:BIIB) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,479 shares of the biotechnology company’s stock after selling 230 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Biogen were worth $1,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC raised its holdings in shares of Biogen by 24,726.3% in the 4th quarter. International Assets Investment Management LLC now owns 476,913 shares of the biotechnology company’s stock worth $123,411,000 after purchasing an additional 474,992 shares in the last quarter. abrdn plc raised its holdings in shares of Biogen by 237.4% in the 4th quarter. abrdn plc now owns 437,075 shares of the biotechnology company’s stock worth $113,102,000 after purchasing an additional 307,532 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Biogen by 204.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 446,602 shares of the biotechnology company’s stock worth $114,781,000 after purchasing an additional 300,086 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Biogen by 24.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,189,546 shares of the biotechnology company’s stock worth $305,725,000 after purchasing an additional 233,889 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Biogen by 28.7% in the 3rd quarter. American Century Companies Inc. now owns 898,928 shares of the biotechnology company’s stock worth $231,033,000 after purchasing an additional 200,310 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction on Thursday, February 15th. The stock was purchased at an average cost of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Biogen news, insider Priya Singhal sold 262 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the sale, the insider now directly owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eric K. Rowinsky acquired 455 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. In the last three months, insiders sold 882 shares of company stock valued at $202,030. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BIIB. Bank of America cut their price target on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Needham & Company LLC cut their price target on shares of Biogen from $305.00 to $300.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. Cantor Fitzgerald restated an “overweight” rating and set a $311.00 price target on shares of Biogen in a report on Tuesday, February 20th. Wedbush cut their price target on shares of Biogen from $245.00 to $213.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, HC Wainwright restated a “buy” rating and set a $325.00 price target on shares of Biogen in a report on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $295.58.

Biogen Stock Down 0.2 %

BIIB stock traded down $0.41 during trading hours on Tuesday, hitting $193.70. The company’s stock had a trading volume of 536,474 shares, compared to its average volume of 1,152,911. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $214.22 and a two-hundred day moving average price of $235.11. The company has a market capitalization of $28.16 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 1.85 and a beta of -0.02. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $319.76.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.18 by ($0.23). The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same period in the prior year, the company posted $4.05 earnings per share. On average, equities research analysts expect that Biogen Inc. will post 15.48 earnings per share for the current year.

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.