Biogen Inc. (NASDAQ:BIIB) Director Sells $1,314,175.20 in Stock

Biogen Inc. (NASDAQ:BIIB) Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction dated 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 completion of 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Biogen Stock Performance

NASDAQ BIIB traded up $0.33 during trading hours on Monday, hitting $150.71. 2,598,400 shares of the stock were exchanged, compared to its average volume of 1,543,039. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The stock has a 50-day moving average of $143.98 and a 200 day moving average of $166.18. The company has a market cap of $22.06 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, equities research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BIIB shares. Piper Sandler reiterated a “neutral” rating and issued a $135.00 price objective (down previously from $138.00) on shares of Biogen in a report on Tuesday, February 18th. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Sanford C. Bernstein assumed coverage on shares of Biogen in a research note on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price objective for the company. Royal Bank of Canada dropped their price objective on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Biogen presently has an average rating of “Hold” and a consensus price target of $213.33.

Institutional Investors Weigh In On Biogen

A number of large investors have recently added to or reduced their stakes in BIIB. Grandfield & Dodd LLC increased its stake in shares of Biogen by 5.2% during the 3rd quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 62 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Biogen by 3.5% in the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock worth $320,000 after acquiring an additional 71 shares during the last quarter. Quent Capital LLC lifted its position in shares of Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after acquiring an additional 72 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 77 shares in the last quarter. Finally, Principal Securities Inc. boosted its stake in shares of Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 78 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

About Biogen

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.