Linden Thomas Advisory Services LLC Has $1.37 Million Position in Biogen Inc. (NASDAQ:BIIB)

Linden Thomas Advisory Services LLC reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,300 shares of the biotechnology company’s stock after selling 80 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Biogen were worth $1,371,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. California Public Employees Retirement System grew its holdings in shares of Biogen by 29.2% during the 4th quarter. California Public Employees Retirement System now owns 363,209 shares of the biotechnology company’s stock valued at $93,988,000 after acquiring an additional 82,046 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Biogen by 7.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 127,488 shares of the biotechnology company’s stock valued at $32,990,000 after acquiring an additional 9,284 shares in the last quarter. RWA Wealth Partners LLC purchased a new position in shares of Biogen during the 4th quarter valued at $782,000. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Biogen by 6.8% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,770 shares of the biotechnology company’s stock valued at $3,046,000 after acquiring an additional 750 shares in the last quarter. Finally, abrdn plc grew its holdings in shares of Biogen by 237.4% during the 4th quarter. abrdn plc now owns 437,075 shares of the biotechnology company’s stock valued at $113,102,000 after acquiring an additional 307,532 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Price Performance

BIIB opened at $201.99 on Thursday. Biogen Inc. has a one year low of $189.44 and a one year high of $319.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. The company’s 50 day simple moving average is $213.18 and its 200-day simple moving average is $234.39. The stock has a market capitalization of $29.36 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 1.84 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the business posted $4.05 earnings per share. Sell-side analysts anticipate that Biogen Inc. will post 15.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

BIIB has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $294.00 price objective on shares of Biogen in a report on Wednesday. Barclays decreased their price objective on shares of Biogen from $230.00 to $215.00 and set an “equal weight” rating for the company in a report on Thursday, April 4th. Mizuho decreased their price objective on shares of Biogen from $355.00 to $277.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. BMO Capital Markets decreased their price objective on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $364.00 price objective on shares of Biogen in a report on Tuesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $294.38.

Insider Buying and Selling at Biogen

In other Biogen news, Director Eric K. Rowinsky acquired 455 shares of Biogen stock in a transaction on Thursday, February 15th. The shares were purchased at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Biogen news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the transaction, the insider now directly owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eric K. Rowinsky bought 455 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was purchased at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now 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. Over the last ninety days, insiders have sold 882 shares of company stock valued at $202,030. 0.60% of the stock is currently owned by insiders.

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.