Congress Park Capital LLC Sells 931 Shares of Biogen Inc. (NASDAQ:BIIB)

Congress Park Capital LLC decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIBFree Report) by 18.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,117 shares of the biotechnology company’s stock after selling 931 shares during the period. Congress Park Capital LLC’s holdings in Biogen were worth $1,065,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Biogen by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock worth $2,468,356,000 after buying an additional 183,285 shares in the last quarter. State Street Corp boosted its stake in Biogen by 2.8% during the first quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company’s stock worth $1,518,196,000 after acquiring an additional 197,400 shares in the last quarter. Wellington Management Group LLP grew its holdings in Biogen by 0.5% in the third quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock worth $1,381,251,000 after purchasing an additional 27,951 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Biogen by 49.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company’s stock valued at $580,627,000 after purchasing an additional 691,843 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Biogen by 2.8% during the third quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock valued at $422,276,000 after purchasing an additional 45,437 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $215.63 on Monday. The firm has a market capitalization of $31.34 billion, a PE ratio of 27.02, a P/E/G ratio of 1.80 and a beta of -0.02. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $228.40 and a two-hundred day moving average price of $241.47. Biogen Inc. has a twelve month low of $211.01 and a twelve month high of $319.76.

Biogen (NASDAQ:BIIBGet Free Report) last released 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 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 the consensus estimate of $2.47 billion. During the same period last year, the business posted $4.05 earnings per share. Equities analysts forecast that Biogen Inc. will post 15.48 EPS for the current year.

Wall Street Analyst Weigh In

BIIB has been the subject of several research reports. Stifel Nicolaus reduced their target price on Biogen from $315.00 to $287.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. Robert W. Baird decreased their price objective on Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. BTIG Research reiterated a “neutral” rating on shares of Biogen in a report on Sunday, January 7th. Raymond James upgraded shares of Biogen from a “market perform” rating to an “outperform” rating and set a $283.00 price target for the company in a research note on Thursday, December 7th. Finally, Canaccord Genuity Group dropped their price objective on shares of Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $305.68.

Check Out Our Latest Report on Biogen

Insider Activity

In other news, Director Eric K. Rowinsky acquired 455 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the transaction, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction on Thursday, February 22nd. The stock was 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 owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the purchase, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The disclosure for this purchase can be found here. Insiders have sold a total of 789 shares of company stock worth $182,213 over the last ninety days. Company insiders own 0.60% of the company’s stock.

About Biogen

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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