Stephen A. Sherwin Sells 8,760 Shares of Biogen Inc. (NASDAQ:BIIB) Stock

Biogen Inc. (NASDAQ:BIIB) Director Stephen A. Sherwin sold 8,760 shares of Biogen 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 transaction, the director now owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Biogen Trading Down 4.7 %

Biogen stock opened at $143.66 on Wednesday. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The stock has a market capitalization of $21.03 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The firm has a 50 day simple moving average of $143.80 and a 200-day simple moving average of $165.37. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results 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%. As a group, equities research analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BIIB shares. HC Wainwright decreased their target price on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective on the stock. in a research note on Monday, December 16th. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Wells Fargo & Company reduced their price target on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Finally, Bank of America reaffirmed a “neutral” rating and set a $178.00 price objective on shares of Biogen in a research report on Tuesday, December 10th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Biogen has an average rating of “Hold” and a consensus price target of $213.33.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BIIB. Inspire Trust Co. N.A. grew its stake in shares of Biogen by 58.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after purchasing an additional 4,025 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Biogen by 0.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after buying an additional 111 shares in the last quarter. Centre Asset Management LLC grew its position in Biogen by 7.7% in the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after buying an additional 3,698 shares during the last quarter. Amundi increased its holdings in shares of Biogen by 35.6% in the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after buying an additional 319,478 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after acquiring an additional 12,319 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

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.