Cerity Partners LLC Increases Position in Biogen Inc. (NASDAQ:BIIB)

Cerity Partners LLC boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 15.5% in the fourth quarter, HoldingsChannel reports. The firm owned 2,678 shares of the biotechnology company’s stock after purchasing an additional 360 shares during the period. Cerity Partners LLC’s holdings in Biogen were worth $693,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BIIB. International Assets Investment Management LLC grew its position in shares of Biogen by 119.3% during the third quarter. International Assets Investment Management LLC now owns 1,921 shares of the biotechnology company’s stock worth $495,000 after buying an additional 1,045 shares in the last quarter. AE Wealth Management LLC increased its position in shares of Biogen by 31.4% in the 3rd quarter. AE Wealth Management LLC now owns 1,666 shares of the biotechnology company’s stock worth $428,000 after purchasing an additional 398 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of Biogen by 13.2% in the 3rd quarter. HB Wealth Management LLC now owns 1,660 shares of the biotechnology company’s stock valued at $427,000 after purchasing an additional 194 shares in the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of Biogen by 8.5% during the third quarter. Flagship Harbor Advisors LLC now owns 1,661 shares of the biotechnology company’s stock worth $427,000 after purchasing an additional 130 shares during the last quarter. Finally, Impact Partnership Wealth LLC grew its stake in Biogen by 3,433.3% in the third quarter. Impact Partnership Wealth LLC now owns 212 shares of the biotechnology company’s stock worth $54,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 419 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Priya Singhal sold 419 shares of the business’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 value of $100,329.55. Following the sale, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction that occurred 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 completion of the acquisition, 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. Insiders have sold a total of 882 shares of company stock valued at $202,030 over the last three months. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. UBS Group cut their price objective on Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Barclays reduced their price objective on Biogen from $230.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 4th. Needham & Company LLC dropped their target price on shares of Biogen from $305.00 to $300.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. StockNews.com lowered shares of Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.58.

Biogen Stock Down 0.5 %

Biogen stock opened at $193.18 on Wednesday. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76. The stock has a market cap of $28.08 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 1.85 and a beta of -0.02. The company’s 50-day moving average price is $213.55 and its two-hundred day moving average price is $234.62. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). The company had revenue of $2.39 billion for 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 quarter in the prior year, the business earned $4.05 EPS. On average, analysts expect that Biogen Inc. will post 15.48 EPS for the current fiscal year.

About Biogen

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.