Waldron Private Wealth LLC Trims Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Waldron Private Wealth LLC reduced its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 14.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,011 shares of the biotechnology company’s stock after selling 169 shares during the quarter. Waldron Private Wealth LLC’s holdings in Biogen were worth $261,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BIIB. Altshuler Shaham Ltd purchased a new position in Biogen during the fourth quarter valued at approximately $25,000. OFI Invest Asset Management bought a new position in Biogen in the 3rd quarter valued at $26,000. Gladius Capital Management LP purchased a new position in shares of Biogen during the 3rd quarter valued at $28,000. KB Financial Partners LLC increased its holdings in shares of Biogen by 105.1% in the third 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 period. Finally, CVA Family Office LLC purchased a new stake in shares of Biogen in the fourth quarter worth $36,000. 87.93% of the stock is owned by institutional investors.

Biogen Trading Down 0.8 %

BIIB opened at $195.15 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. Biogen Inc. has a 52 week low of $194.94 and a 52 week high of $319.76. The stock has a market cap of $28.37 billion, a PE ratio of 24.45, a PEG ratio of 1.87 and a beta of -0.02. The business has a 50 day moving average of $218.13 and a 200-day moving average of $236.87.

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

Insider Activity at Biogen

In related news, insider Priya Singhal sold 419 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the sale, the insider now owns 4,516 shares in the company, valued at approximately $1,081,356.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Eric K. Rowinsky bought 455 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the sale, the insider now directly owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. Insiders sold a total of 882 shares of company stock valued at $202,030 in the last three months. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on BIIB. BMO Capital Markets cut their price target on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. BTIG Research reaffirmed a “neutral” rating on shares of Biogen in a report on Sunday, January 7th. Canaccord Genuity Group lowered their price target on shares of Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research note on Monday, April 1st. Finally, JPMorgan Chase & Co. decreased their price objective on Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Ten research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Biogen has an average rating of “Moderate Buy” and an average price target of $298.96.

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.