Cwm LLC Decreases Stake in Biogen Inc. (NASDAQ:BIIB)

Cwm LLC lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,458 shares of the biotechnology company’s stock after selling 200 shares during the quarter. Cwm LLC’s holdings in Biogen were worth $895,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in BIIB. International Assets Investment Management LLC boosted its position in shares of Biogen by 24,726.3% during the 4th quarter. International Assets Investment Management LLC now owns 476,913 shares of the biotechnology company’s stock valued at $123,411,000 after acquiring an additional 474,992 shares during the last quarter. abrdn plc lifted its position in Biogen by 237.4% in the 4th quarter. abrdn plc now owns 437,075 shares of the biotechnology company’s stock worth $113,102,000 after buying an additional 307,532 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Biogen by 204.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 446,602 shares of the biotechnology company’s stock worth $114,781,000 after purchasing an additional 300,086 shares during the period. Van ECK Associates Corp increased its stake in Biogen by 24.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,189,546 shares of the biotechnology company’s stock worth $305,725,000 after purchasing an additional 233,889 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Biogen by 28.7% during the third quarter. American Century Companies Inc. now owns 898,928 shares of the biotechnology company’s stock valued at $231,033,000 after buying an additional 200,310 shares during the period. Institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays dropped their price target on Biogen from $215.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Thursday. Truist Financial restated a “buy” rating and issued a $340.00 price target on shares of Biogen in a research report on Monday, March 25th. Bank Of America (Bofa) cut their target price on Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a research report on Monday, February 12th. BTIG Research reissued a “neutral” rating on shares of Biogen in a research note on Sunday, January 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Biogen in a research note on Monday, April 1st. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $293.88.

Insider Activity

In related news, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Priya Singhal sold 262 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now directly owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. 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 quarter. 0.60% of the stock is currently owned by company insiders.

Biogen Stock Up 3.2 %

Shares of BIIB stock opened at $208.90 on Monday. Biogen Inc. has a 1-year low of $189.44 and a 1-year high of $319.76. The stock’s fifty day moving average price is $212.55 and its 200 day moving average price is $233.34. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.26. The company has a market cap of $30.42 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 2.13 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.22. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.40 EPS. On average, research analysts expect that Biogen Inc. will post 15.57 earnings per share 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.