Xponance Inc. Decreases Position in Biogen Inc. (NASDAQ:BIIB)

Xponance Inc. reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 5.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 20,047 shares of the biotechnology company’s stock after selling 1,246 shares during the period. Xponance Inc.’s holdings in Biogen were worth $5,188,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BIIB. Raymond James Trust N.A. boosted its position in Biogen by 16.4% in the 1st quarter. Raymond James Trust N.A. now owns 3,294 shares of the biotechnology company’s stock valued at $693,000 after buying an additional 464 shares during the last quarter. Cibc World Market Inc. boosted its holdings in Biogen by 39.9% in the first quarter. Cibc World Market Inc. now owns 15,244 shares of the biotechnology company’s stock valued at $3,210,000 after purchasing an additional 4,349 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Biogen by 1.6% in the first 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. grew 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. increased its holdings in Biogen by 10.7% during the 1st quarter. Brown Brothers Harriman & Co. now owns 5,938 shares of the biotechnology company’s stock worth $1,251,000 after purchasing an additional 573 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BIIB has been the subject of a number of recent analyst reports. Wedbush decreased their price target on shares of Biogen from $245.00 to $213.00 and set a “neutral” rating for the company in a research report on Wednesday. Canaccord Genuity Group dropped their target price on shares of Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. StockNews.com lowered shares of Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. BTIG Research reiterated a “neutral” rating on shares of Biogen in a research note on Sunday, January 7th. Finally, Piper Sandler cut their price objective on Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Biogen currently has an average rating of “Moderate Buy” and an average target price of $295.58.

Biogen Trading Up 2.0 %

Shares of Biogen stock opened at $194.38 on Friday. The business has a fifty day simple moving average of $215.23 and a 200-day simple moving average of $235.73. The firm has a market cap of $28.26 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 1.85 and a beta of -0.02. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $319.76. 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 (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same period in the previous year, the company posted $4.05 earnings per share. On average, equities analysts forecast that Biogen Inc. will post 15.48 EPS for the current fiscal year.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 419 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 4,516 shares in the company, valued at approximately $1,081,356.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Biogen news, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now directly 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 accessible through the SEC website. Also, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction 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 completion of 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 have sold 882 shares of company stock valued at $202,030 over the last three months. Company insiders own 0.60% of the company’s stock.

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.