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

Biogen Inc. (NASDAQ:BIIB) Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the sale, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Biogen Stock Performance

Shares of BIIB opened at $140.19 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The firm has a fifty day moving average of $143.55 and a 200-day moving average of $165.20. The company has a market cap of $20.52 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share 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 analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on BIIB shares. Bank Of America (Bofa) dropped their price objective on Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of Biogen in a report on Monday, January 13th. StockNews.com downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Truist Financial lowered their target price on Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Morgan Stanley dropped their price target on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Biogen presently has a consensus rating of “Hold” and a consensus target price of $213.33.

Hedge Funds Weigh In On Biogen

Several large investors have recently made changes to their positions in BIIB. Inspire Trust Co. N.A. raised its stake in Biogen by 58.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after purchasing an additional 4,025 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Biogen by 0.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after purchasing an additional 111 shares in the last quarter. Centre Asset Management LLC boosted its stake in shares of Biogen by 7.7% during the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after acquiring an additional 3,698 shares in the last quarter. Amundi grew its holdings in Biogen by 35.6% during the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after purchasing an additional 319,478 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Biogen by 1.4% in 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 buying an additional 12,319 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

About Biogen

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.