Mariner LLC Sells 1,001 Shares of Biogen Inc. (NASDAQ:BIIB)

Mariner LLC lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 5.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,966 shares of the biotechnology company’s stock after selling 1,001 shares during the quarter. Mariner LLC’s holdings in Biogen were worth $2,900,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lee Danner & Bass Inc. bought a new stake in shares of Biogen in the fourth quarter valued at about $25,000. Larson Financial Group LLC boosted its stake in shares of Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 141 shares during the period. SRS Capital Advisors Inc. acquired a new stake in shares of Biogen during the 4th quarter worth $33,000. OFI Invest Asset Management acquired a new position in Biogen in the fourth quarter valued at about $32,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Biogen in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Buying and Selling

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

Biogen Trading Up 2.1 %

NASDAQ:BIIB opened at $118.89 on Wednesday. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The firm has a 50-day moving average of $133.56 and a 200-day moving average of $150.49. The company has a market cap of $17.40 billion, a PE ratio of 10.62, a PEG ratio of 1.51 and a beta of 0.06.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, equities research analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com downgraded Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. The Goldman Sachs Group dropped their price objective on shares of Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Morgan Stanley reduced their price target on Biogen from $157.00 to $152.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Finally, Citigroup reduced their target price on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Eighteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.