Biogen Inc. (NASDAQ:BIIB) Shares Bought by Cerity Partners LLC

Cerity Partners LLC grew its position in Biogen Inc. (NASDAQ:BIIB) by 15.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,678 shares of the biotechnology company’s stock after buying an additional 360 shares during the period. Cerity Partners LLC’s holdings in Biogen were worth $693,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stratos Wealth Partners LTD. raised its stake in shares of Biogen by 1.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock valued at $1,036,000 after acquiring an additional 42 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Biogen by 2.3% during the third quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock worth $525,000 after purchasing an additional 45 shares in the last quarter. PAX Financial Group LLC boosted its position in shares of Biogen by 2.9% during the third quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock worth $405,000 after buying an additional 45 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in shares of Biogen by 2.4% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock valued at $502,000 after buying an additional 45 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Biogen by 3.2% in the 3rd quarter. Ballentine Partners LLC now owns 1,528 shares of the biotechnology company’s stock valued at $393,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

NASDAQ BIIB opened at $193.18 on Wednesday. The business’s 50-day moving average price is $213.55 and its 200 day moving average price is $234.62. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. The firm has a market cap 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. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $319.76.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $2.47 billion. During the same quarter last year, the company earned $4.05 EPS. On average, equities research analysts expect that Biogen Inc. will post 15.48 earnings per share for the current year.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 262 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the transaction, the insider now directly owns 4,886 shares in the company, valued at $1,080,929.78. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Biogen news, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction on Thursday, February 15th. The stock was bought 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 owns 20,629 shares in the company, valued at $4,590,777.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Priya Singhal sold 262 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 882 shares of company stock worth $202,030. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BIIB. Mizuho dropped their price objective on shares of Biogen from $355.00 to $277.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Bank Of America (Bofa) cut their price objective on Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a research report on Monday, February 12th. BTIG Research reiterated a “neutral” rating on shares of Biogen in a report on Sunday, January 7th. UBS Group lowered their target price on Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, StockNews.com lowered Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.58.

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.