CIBC Private Wealth Group LLC Has $209,000 Position in Biogen Inc. (NASDAQ:BIIB)

CIBC Private Wealth Group LLC cut its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,384 shares of the biotechnology company’s stock after selling 148 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Biogen were worth $209,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Signaturefd LLC boosted its position in shares of Biogen by 3.5% during the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock worth $320,000 after purchasing an additional 71 shares in the last quarter. Quent Capital LLC boosted its holdings in Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after acquiring an additional 72 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 77 shares during the period. Principal Securities Inc. increased its holdings in shares of Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 78 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Biogen by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock worth $767,000 after purchasing an additional 79 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of BIIB stock opened at $122.98 on Monday. The firm’s 50 day moving average is $140.68 and its 200 day moving average is $157.34. The stock has a market capitalization of $18.00 billion, a P/E ratio of 10.99, a PEG ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 12 month low of $118.04 and a 12 month high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

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 return on equity of 14.98% and a net margin of 16.87%. On average, sell-side analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on BIIB shares. Citigroup decreased their price target on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. HC Wainwright decreased their target price on shares of Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Argus cut shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $135.00 target price (down previously from $138.00) on shares of Biogen in a research report on Tuesday, February 18th. Eighteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $213.33.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

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.