Cwm LLC Reduces Stock Position in Biogen Inc. (NASDAQ:BIIB)

Cwm LLC reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 12.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,285 shares of the biotechnology company’s stock after selling 480 shares during the period. Cwm LLC’s holdings in Biogen were worth $637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BIIB. Vanguard Group Inc. lifted its holdings in Biogen by 15.0% in the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after buying an additional 2,163,068 shares during the period. Van ECK Associates Corp lifted its holdings in Biogen by 22.2% in the first quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock worth $374,623,000 after buying an additional 316,144 shares during the period. RA Capital Management L.P. lifted its holdings in Biogen by 39.0% in the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock worth $159,723,000 after buying an additional 207,835 shares during the period. SG Americas Securities LLC lifted its holdings in Biogen by 1,227.4% in the first quarter. SG Americas Securities LLC now owns 176,262 shares of the biotechnology company’s stock worth $38,007,000 after buying an additional 162,983 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Biogen by 27.2% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 570,533 shares of the biotechnology company’s stock worth $123,024,000 after buying an additional 122,101 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Trading Up 0.3 %

NASDAQ:BIIB opened at $190.16 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. Biogen Inc. has a 12 month low of $181.31 and a 12 month high of $268.30. The company has a market cap of $27.69 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 1.87 and a beta of -0.06. The company has a 50 day simple moving average of $197.09 and a two-hundred day simple moving average of $210.88.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.02 EPS. Research analysts forecast that Biogen Inc. will post 16.13 earnings per share for the current year.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 431 shares of Biogen 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 transaction, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BIIB. Wedbush lowered their price objective on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Raymond James reiterated a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. Wells Fargo & Company lowered their target price on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. BMO Capital Markets lowered their target price on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Robert W. Baird lowered their target price on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Biogen has an average rating of “Moderate Buy” and an average target price of $271.39.

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.