Intellectus Partners LLC Cuts Stock Position in Biogen Inc. (NASDAQ:BIIB)

Intellectus Partners LLC lessened its stake in Biogen Inc. (NASDAQ:BIIB) by 0.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,563 shares of the biotechnology company’s stock after selling 50 shares during the quarter. Intellectus Partners LLC’s holdings in Biogen were worth $1,440,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Wellington Management Group LLP boosted its stake in Biogen by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock worth $1,381,251,000 after purchasing an additional 27,951 shares during the last quarter. Northern Trust Corp boosted its stake in Biogen by 2.8% during the 3rd quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock worth $422,276,000 after purchasing an additional 45,437 shares during the last quarter. Morgan Stanley boosted its stake in Biogen by 4.3% during the 3rd quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock worth $383,745,000 after purchasing an additional 61,814 shares during the last quarter. Van ECK Associates Corp boosted its stake in Biogen by 24.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,189,546 shares of the biotechnology company’s stock worth $305,725,000 after purchasing an additional 233,889 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Biogen by 19.1% during the 3rd quarter. Invesco Ltd. now owns 1,181,374 shares of the biotechnology company’s stock valued at $303,625,000 after acquiring an additional 189,368 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was purchased at an average cost of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Priya Singhal sold 419 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The disclosure for this sale can be found here. Insiders have sold a total of 882 shares of company stock worth $202,030 in the last 90 days. Company insiders own 0.60% of the company’s stock.

Biogen Stock Up 3.2 %

Shares of NASDAQ:BIIB traded up $6.44 during mid-day trading on Friday, reaching $208.90. 1,894,098 shares of the stock were exchanged, compared to its average volume of 1,185,437. Biogen Inc. has a one year low of $189.44 and a one year high of $319.76. The company has a market cap of $30.42 billion, a P/E ratio of 26.08, a P/E/G ratio of 2.13 and a beta of -0.02. The stock’s 50 day simple moving average is $212.55 and its 200-day simple moving average is $233.57. The company has a quick ratio of 1.26, a current ratio of 2.10 and a debt-to-equity ratio of 0.41.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company earned $3.40 EPS. The company’s revenue was down 7.0% on a year-over-year basis. As a group, equities research analysts predict that Biogen Inc. will post 15.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BIIB. Needham & Company LLC reissued a “buy” rating and set a $294.00 price target on shares of Biogen in a research report on Wednesday. Canaccord Genuity Group decreased their price objective on Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. BTIG Research restated a “neutral” rating on shares of Biogen in a research report on Sunday, January 7th. BMO Capital Markets dropped their price target on Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $311.00 price objective on shares of Biogen in a research report on Tuesday, February 20th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $293.88.

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.