Raymond James & Associates Sells 10,184 Shares of Biogen Inc. (NASDAQ:BIIB)

Raymond James & Associates reduced its holdings in Biogen Inc. (NASDAQ:BIIB) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 142,076 shares of the biotechnology company’s stock after selling 10,184 shares during the period. Raymond James & Associates owned 0.10% of Biogen worth $36,765,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BIIB. Altshuler Shaham Ltd bought a new position in Biogen in the fourth quarter valued at approximately $25,000. OFI Invest Asset Management bought a new stake in Biogen during the third quarter worth $26,000. Gladius Capital Management LP acquired a new stake in Biogen in the third quarter valued at $28,000. KB Financial Partners LLC increased its stake in shares of Biogen by 105.1% during the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 62 shares during the last quarter. Finally, Indiana Trust & Investment Management CO bought a new stake in shares of Biogen in the 3rd quarter valued at about $37,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Price Performance

Biogen stock opened at $215.63 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46. The business’s 50 day simple moving average is $229.71 and its 200 day simple moving average is $242.07. Biogen Inc. has a 12 month low of $211.01 and a 12 month high of $319.76. The company has a market cap of $31.34 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.77 and a beta of -0.03.

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

Insider Activity at Biogen

In other Biogen news, Director Eric K. Rowinsky bought 455 shares of the stock in a transaction on Thursday, February 15th. The shares were acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now owns 4,886 shares in the company, valued at approximately $1,080,929.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eric K. Rowinsky bought 455 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 789 shares of company stock worth $182,213. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Mizuho dropped their price objective on Biogen from $355.00 to $277.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Robert W. Baird lowered their price target on Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Bank Of America (Bofa) dropped their price objective on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. Stifel Nicolaus decreased their target price on shares of Biogen from $315.00 to $287.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $340.00 price target on shares of Biogen in a research report on Monday. Nine investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $305.68.

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.