Biogen Inc. (NASDAQ:BIIB) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its position in shares of Biogen Inc. (NASDAQ:BIIB) by 43.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,903 shares of the biotechnology company’s stock after selling 49,896 shares during the quarter. Fisher Asset Management LLC’s holdings in Biogen were worth $16,536,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth Equity Services LLC raised its position in shares of Biogen by 1.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 23,416 shares of the biotechnology company’s stock worth $6,018,000 after purchasing an additional 433 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Biogen by 5.6% in the third quarter. Raymond James & Associates now owns 152,260 shares of the biotechnology company’s stock worth $39,132,000 after acquiring an additional 8,029 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Biogen by 1.1% in the third 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 in the last quarter. Stratos Wealth Advisors LLC boosted its stake in shares of Biogen by 20.0% during the third quarter. Stratos Wealth Advisors LLC now owns 877 shares of the biotechnology company’s stock valued at $225,000 after acquiring an additional 146 shares during the last quarter. Finally, Forsta AP Fonden increased its position in Biogen by 6.4% during the 3rd quarter. Forsta AP Fonden now owns 28,100 shares of the biotechnology company’s stock worth $7,222,000 after purchasing an additional 1,700 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Trading Up 1.9 %

Shares of BIIB opened at $217.51 on Monday. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $319.76. The stock’s 50-day moving average is $212.00 and its two-hundred day moving average is $231.62. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32. The stock has a market cap of $31.67 billion, a PE ratio of 27.15, a P/E/G ratio of 2.21 and a beta of -0.01.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the company posted $3.40 EPS. Biogen’s revenue for the quarter was down 7.0% on a year-over-year basis. Equities analysts forecast that Biogen Inc. will post 15.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Bank Of America (Bofa) cut their price target on Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Monday, February 12th. BTIG Research restated a “neutral” rating on shares of Biogen in a report on Sunday, January 7th. HC Wainwright lowered their price objective on Biogen from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Barclays reduced their target price on Biogen from $215.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $290.92.

Insider Activity

In related news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Priya Singhal sold 262 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the transaction, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eric K. Rowinsky acquired 455 shares of the stock in a transaction on Thursday, February 15th. The shares were acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The disclosure for this purchase can be found here. Over the last three months, insiders sold 882 shares of company stock worth $202,030. 0.60% of the stock is currently owned by company insiders.

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.