Biogen Inc. (NASDAQ:BIIB) Shares Sold by Lindbrook Capital LLC

Lindbrook Capital LLC reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 541 shares of the biotechnology company’s stock after selling 81 shares during the period. Lindbrook Capital LLC’s holdings in Biogen were worth $140,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of Biogen by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock worth $1,381,251,000 after purchasing an additional 27,951 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Biogen by 2.8% during the 3rd quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock worth $422,276,000 after purchasing an additional 45,437 shares during the last quarter. Morgan Stanley boosted its stake in shares of Biogen by 4.3% during the 3rd quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock worth $383,745,000 after purchasing an additional 61,814 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Biogen by 24.5% during 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 last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Biogen by 19.1% during the 3rd quarter. Invesco Ltd. now owns 1,181,374 shares of the biotechnology company’s stock worth $303,625,000 after acquiring an additional 189,368 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Needham & Company LLC cut their price objective 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. Wells Fargo & Company lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $315.00 to $240.00 in a report on Wednesday, February 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $311.00 price objective on shares of Biogen in a report on Tuesday, February 20th. HC Wainwright reiterated a “buy” rating and set a $325.00 price objective on shares of Biogen in a report on Wednesday, February 14th. Finally, William Blair reiterated an “outperform” rating on shares of Biogen in a report on Monday, April 1st. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.58.

Biogen Trading Down 0.5 %

BIIB opened at $193.18 on Wednesday. The firm has a market capitalization of $28.08 billion, a P/E ratio of 24.21, a P/E/G ratio of 1.85 and a beta of -0.02. The firm’s 50 day moving average is $213.55 and its 200-day moving average is $234.62. Biogen Inc. has a 52-week low of $189.44 and a 52-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 released 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). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the business posted $4.05 EPS. Analysts expect that Biogen Inc. will post 15.48 EPS for the current fiscal year.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 419 shares of the firm’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 transaction of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Biogen news, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction on 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 acquisition, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Priya Singhal sold 419 shares of Biogen stock in a transaction 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 completion of the transaction, 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. Over the last quarter, insiders sold 882 shares of company stock valued at $202,030. 0.60% of the stock is currently owned by corporate insiders.

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.