Institute for Wealth Management LLC. Sells 101 Shares of Biogen Inc. (NASDAQ:BIIB)

Institute for Wealth Management LLC. cut its position in Biogen Inc. (NASDAQ:BIIBFree Report) by 10.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 849 shares of the biotechnology company’s stock after selling 101 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Biogen were worth $220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC boosted its stake in shares of Biogen by 97.9% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 5,660 shares of the biotechnology company’s stock valued at $1,465,000 after buying an additional 2,800 shares during the period. Guardian Investment Management lifted its position in shares of Biogen by 1.0% during the 4th quarter. Guardian Investment Management now owns 10,165 shares of the biotechnology company’s stock valued at $2,630,000 after acquiring an additional 100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Biogen by 157.5% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 430 shares of the biotechnology company’s stock worth $111,000 after purchasing an additional 263 shares in the last quarter. Everence Capital Management Inc. increased its position in shares of Biogen by 26.6% in the fourth quarter. Everence Capital Management Inc. now owns 5,000 shares of the biotechnology company’s stock worth $1,294,000 after purchasing an additional 1,050 shares during the period. Finally, DGS Capital Management LLC raised its stake in Biogen by 4.2% in the fourth quarter. DGS Capital Management LLC now owns 1,265 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 51 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BIIB has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $364.00 price objective on shares of Biogen in a research note on Tuesday, March 5th. Bank of America reduced their price target on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Truist Financial restated a “buy” rating and set a $340.00 price objective on shares of Biogen in a research report on Monday, March 25th. Robert W. Baird reduced their target price on Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Finally, Wells Fargo & Company lowered Biogen from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $315.00 to $240.00 in a research note on Wednesday, February 14th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $295.58.

View Our Latest Analysis on BIIB

Biogen Trading Up 2.0 %

BIIB opened at $194.38 on Monday. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $319.76. The company has a fifty day moving average of $215.23 and a 200-day moving average of $235.57. The stock has a market cap of $28.26 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 1.85 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.

Biogen (NASDAQ:BIIBGet Free Report) 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 for the quarter, compared to analyst estimates of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same quarter in the previous year, the business posted $4.05 earnings per share. On average, sell-side analysts predict that Biogen Inc. will post 15.48 EPS for the current year.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 419 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Priya Singhal sold 419 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The stock was purchased at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The disclosure for this purchase can be found here. Over the last three months, insiders sold 882 shares of company stock worth $202,030. 0.60% of the stock is owned by corporate insiders.

Biogen Profile

(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.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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