Clarius Group LLC Raises Stake in Biogen Inc. (NASDAQ:BIIB)

Clarius Group LLC boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,123 shares of the biotechnology company’s stock after purchasing an additional 60 shares during the quarter. Clarius Group LLC’s holdings in Biogen were worth $291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BIIB. Raymond James Trust N.A. boosted its holdings in Biogen by 16.4% in the first quarter. Raymond James Trust N.A. now owns 3,294 shares of the biotechnology company’s stock worth $693,000 after acquiring an additional 464 shares in the last quarter. Cibc World Market Inc. boosted its stake in Biogen by 39.9% in the 1st quarter. Cibc World Market Inc. now owns 15,244 shares of the biotechnology company’s stock worth $3,210,000 after purchasing an additional 4,349 shares in the last quarter. Vanguard Group Inc. grew its position in Biogen by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock valued at $2,468,356,000 after purchasing an additional 183,285 shares during the last quarter. Baird Financial Group Inc. increased its stake in Biogen by 15.3% during the 1st quarter. Baird Financial Group Inc. now owns 89,722 shares of the biotechnology company’s stock valued at $18,896,000 after purchasing an additional 11,882 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in Biogen by 10.7% in the first quarter. Brown Brothers Harriman & Co. now owns 5,938 shares of the biotechnology company’s stock worth $1,251,000 after buying an additional 573 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 262 shares of the stock in a transaction that occurred 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 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 at this link. In other news, Director Eric K. Rowinsky purchased 455 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Priya Singhal sold 262 shares of Biogen stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 in the company, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 882 shares of company stock valued at $202,030. Corporate insiders own 0.60% of the company’s stock.

Biogen Stock Performance

Shares of NASDAQ BIIB opened at $198.18 on Monday. The stock has a market cap of $28.81 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 1.66 and a beta of -0.02. Biogen Inc. has a 1 year low of $197.78 and a 1 year high of $319.76. The firm has a fifty day moving average price of $220.04 and a 200-day moving average price of $237.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results 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). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the company posted $4.05 EPS. Equities analysts anticipate that Biogen Inc. will post 15.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BIIB shares. UBS Group cut their price target on shares of Biogen from $276.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Barclays decreased their price target on Biogen from $230.00 to $215.00 and set an “equal weight” rating for the company in a research note on Thursday, April 4th. Canaccord Genuity Group lowered their price target on Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. Wedbush boosted their target price on Biogen from $239.00 to $245.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Finally, Bank of America lowered their target price on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Friday. Ten analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $298.96.

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.