Wrapmanager Inc. Trims Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Wrapmanager Inc. lowered its position in shares of Biogen Inc. (NASDAQ:BIIB) by 7.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,240 shares of the biotechnology company’s stock after selling 192 shares during the quarter. Wrapmanager Inc.’s holdings in Biogen were worth $580,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BIIB. OFI Invest Asset Management purchased a new position in Biogen during the 3rd quarter worth approximately $26,000. Gladius Capital Management LP purchased a new position in shares of Biogen during the third quarter worth $28,000. KB Financial Partners LLC lifted its position in Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares during the period. Hexagon Capital Partners LLC boosted its holdings in Biogen by 76.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 51 shares during the last quarter. Finally, CVA Family Office LLC purchased a new stake in Biogen in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now owns 4,516 shares in the company, valued at approximately $1,081,356.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Biogen news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction on Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the transaction, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders have sold 882 shares of company stock valued at $202,030 in the last ninety days. Insiders own 0.60% of the company’s stock.

Biogen Stock Up 1.4 %

Biogen stock traded up $3.03 during mid-day trading on Thursday, reaching $222.75. 754,499 shares of the company’s stock were exchanged, compared to its average volume of 1,197,173. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $319.76. The company has a market cap of $32.43 billion, a P/E ratio of 27.81, a P/E/G ratio of 2.21 and a beta of -0.01. The company has a fifty day moving average of $211.93 and a 200-day moving average of $230.96.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.40 EPS. Sell-side analysts expect that Biogen Inc. will post 15.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BIIB shares. HSBC boosted their price objective on Biogen from $339.00 to $342.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Bank of America decreased their price target on Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Friday, April 12th. UBS Group dropped their price objective on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. BMO Capital Markets decreased their target price on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Finally, William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, April 1st. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $290.92.

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.