Townsquare Capital LLC Has $430,000 Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Townsquare Capital LLC reduced its position in Biogen Inc. (NASDAQ:BIIB) by 78.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,811 shares of the biotechnology company’s stock after selling 9,997 shares during the period. Townsquare Capital LLC’s holdings in Biogen were worth $430,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of BIIB. Pacer Advisors Inc. raised its position in shares of Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after purchasing an additional 2,648,024 shares during the period. Norges Bank acquired a new stake in Biogen during the fourth quarter worth approximately $355,569,000. Van ECK Associates Corp grew its position in shares of Biogen by 977.9% in the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock valued at $163,083,000 after purchasing an additional 967,523 shares during the last quarter. Invesco Ltd. increased its stake in shares of Biogen by 30.6% during the fourth quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company’s stock worth $325,537,000 after purchasing an additional 499,074 shares during the period. Finally, FMR LLC boosted its stake in Biogen by 98.7% in the 4th quarter. FMR LLC now owns 757,570 shares of the biotechnology company’s stock valued at $115,848,000 after purchasing an additional 376,356 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Trading Up 2.9 %

BIIB opened at $118.61 on Monday. The stock has a market cap of $17.36 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $238.00. The company has a fifty day moving average of $134.29 and a 200-day moving average of $151.20.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, sell-side analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. The trade was a 43.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of recent research reports. Royal Bank of Canada reduced their target price on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. The Goldman Sachs Group dropped their price target on shares of Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Citigroup reduced their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, Canaccord Genuity Group cut their price objective on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $213.15.

Biogen 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.