Biogen Inc. (NASDAQ:BIIB) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 211,336 shares of the biotechnology company’s stock after selling 8,575 shares during the period. Bank of Montreal Can owned 0.15% of Biogen worth $32,318,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Larson Financial Group LLC increased 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 worth $25,000 after acquiring an additional 141 shares during the period. Lee Danner & Bass Inc. acquired a new position in Biogen during the 4th quarter valued at about $25,000. OFI Invest Asset Management bought a new position in Biogen in the 4th quarter worth about $32,000. SRS Capital Advisors Inc. acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $33,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Biogen during the fourth quarter valued at approximately $41,000. 87.93% of the stock is owned by institutional investors.

Biogen Trading Down 5.9 %

NASDAQ BIIB opened at $113.38 on Friday. The firm’s 50 day moving average price is $137.29 and its two-hundred day moving average price is $154.53. 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 twelve month low of $110.04 and a twelve month high of $238.00. The stock has a market cap of $16.60 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 1.51 and a beta of 0.06.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating 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%. Equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of Biogen 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

BIIB has been the subject of a number of recent analyst reports. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Citigroup lowered their price target on Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. BMO Capital Markets reduced their price objective on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a report on Thursday, February 13th. Royal Bank of Canada lowered their target price on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Scotiabank dropped their price target on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 13th. Eighteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Biogen has an average rating of “Hold” and an average price target of $213.15.

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.