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

Biogen Inc. (NASDAQ:BIIB) Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Biogen Price Performance

BIIB opened at $150.71 on Tuesday. The business has a fifty day moving average of $143.99 and a 200 day moving average of $165.81. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The stock has a market cap of $22.06 billion, a P/E ratio of 13.47, a PEG ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Piper Sandler restated a “neutral” rating and set a $135.00 price target (down previously from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Morgan Stanley cut their price target on Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Wells Fargo & Company cut their price target on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Finally, Wolfe Research began coverage on Biogen in a report on Friday, November 15th. They set a “peer perform” rating for the company. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $213.33.

Institutional Investors Weigh In On Biogen

A number of institutional investors and hedge funds have recently bought and sold shares of BIIB. Principal Financial Group Inc. raised its position in Biogen by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after purchasing an additional 5,270 shares in the last quarter. AIA Group Ltd raised its position in Biogen by 10.6% during the 3rd quarter. AIA Group Ltd now owns 1,411 shares of the biotechnology company’s stock valued at $274,000 after purchasing an additional 135 shares in the last quarter. Baker Avenue Asset Management LP bought a new stake in Biogen during the 3rd quarter valued at $241,000. Los Angeles Capital Management LLC bought a new stake in Biogen during the 3rd quarter valued at $830,000. Finally, Ashton Thomas Securities LLC bought a new stake in Biogen during the 3rd quarter valued at $33,000. 87.93% of the stock is owned by institutional investors.

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.