J. L. Bainbridge & Co. Inc. Sells 23,159 Shares of Biogen Inc. (NASDAQ:BIIB)

J. L. Bainbridge & Co. Inc. cut its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 19.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,983 shares of the biotechnology company’s stock after selling 23,159 shares during the period. Biogen comprises approximately 1.4% of J. L. Bainbridge & Co. Inc.’s investment portfolio, making the stock its 21st largest holding. J. L. Bainbridge & Co. Inc. owned 0.07% of Biogen worth $14,984,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Larson Financial Group LLC increased its holdings in Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 141 shares during the last quarter. OFI Invest Asset Management purchased a new stake in Biogen in the 4th quarter worth about $32,000. Ashton Thomas Securities LLC purchased a new stake in Biogen in the 3rd quarter worth about $33,000. SRS Capital Advisors Inc. purchased a new stake in Biogen in the 4th quarter worth about $33,000. Finally, Golden State Wealth Management LLC purchased a new stake in Biogen in the 4th quarter worth about $41,000. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several recent research reports. Wolfe Research initiated coverage on Biogen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Piper Sandler reissued a “neutral” rating and issued a $135.00 price objective (down previously from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Robert W. Baird lifted their target price on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Finally, Scotiabank reduced their target price on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Biogen has an average rating of “Hold” and an average price target of $213.33.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Biogen Stock Performance

Shares of BIIB stock opened at $139.44 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. The stock has a 50 day moving average price of $143.09 and a two-hundred day moving average price of $164.57. The company has a market capitalization of $20.41 billion, a P/E ratio of 12.46, a PEG ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

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.