Nwam LLC Lowers Stake in Biogen Inc. (NASDAQ:BIIB)

Nwam LLC decreased its position in Biogen Inc. (NASDAQ:BIIB) by 13.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,152 shares of the biotechnology company’s stock after selling 173 shares during the quarter. Nwam LLC’s holdings in Biogen were worth $223,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BIIB. Principal Financial Group Inc. grew its stake in shares of Biogen by 3.2% in the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after buying an additional 5,270 shares in the last quarter. Arlington Partners LLC grew its position in Biogen by 34.3% in the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock valued at $3,724,000 after acquiring an additional 4,902 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Biogen by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after purchasing an additional 12,319 shares during the period. Cetera Investment Advisers lifted its position in shares of Biogen by 235.1% during the first quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after purchasing an additional 10,425 shares in the last quarter. Finally, National Pension Service boosted its stake in shares of Biogen by 10.1% in the third quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock valued at $69,699,000 after purchasing an additional 32,914 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on BIIB. Truist Financial reiterated a “buy” rating and set a $302.00 target price (down from $340.00) on shares of Biogen in a report on Monday, August 5th. Robert W. Baird lifted their target price on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Morgan Stanley cut Biogen from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $285.00 to $204.00 in a research note on Thursday, October 31st. Citigroup started coverage on Biogen in a research note on Thursday, November 14th. They issued a “neutral” rating and a $190.00 price objective for the company. Finally, Needham & Company LLC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 target price on the stock. in a research note on Monday, November 18th. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $257.20.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. This represents a 7.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

Biogen Stock Up 0.5 %

Shares of NASDAQ:BIIB opened at $158.71 on Tuesday. Biogen Inc. has a 1-year low of $153.62 and a 1-year high of $268.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The stock has a market cap of $23.13 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.49 and a beta of -0.06. The firm has a fifty day moving average price of $181.03 and a 200 day moving average price of $204.67.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.36 earnings per share. Sell-side analysts predict that Biogen Inc. will post 16.44 EPS for the current year.

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.