Norden Group LLC Has $298,000 Holdings in Biogen Inc. (NASDAQ:BIIB)

Norden Group LLC trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB) by 46.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,150 shares of the biotechnology company’s stock after selling 996 shares during the period. Norden Group LLC’s holdings in Biogen were worth $298,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in Biogen during the 3rd quarter worth about $26,000. Gladius Capital Management LP acquired a new position in Biogen in the 3rd quarter valued at approximately $28,000. KB Financial Partners LLC lifted its position in Biogen by 105.1% in the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after buying an additional 62 shares in the last quarter. CVA Family Office LLC acquired a new stake in shares of Biogen during the 4th quarter valued at $36,000. Finally, Baker Avenue Asset Management LP grew its holdings in shares of Biogen by 215.5% during the 3rd quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock valued at $47,000 after acquiring an additional 125 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Biogen

In other Biogen news, Director Eric K. Rowinsky acquired 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The stock was bought 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 $4,590,777.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Biogen news, insider Priya Singhal sold 419 shares of Biogen 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 sale, the insider now directly owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric K. Rowinsky bought 455 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was bought 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 owns 20,629 shares in the company, 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 90 days. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of research reports. Robert W. Baird reduced their price objective on Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $364.00 price target on shares of Biogen in a research note on Tuesday, March 5th. Barclays reduced their target price on shares of Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. Canaccord Genuity Group dropped their price target on shares of Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price objective on shares of Biogen in a research note on Monday. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $291.64.

Biogen Stock Up 0.6 %

NASDAQ BIIB opened at $216.13 on Thursday. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $319.76. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10. The stock has a market cap of $31.47 billion, a PE ratio of 26.98, a PEG ratio of 2.18 and a beta of -0.01. The firm has a 50-day simple moving average of $212.30 and a 200 day simple moving average of $232.57.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. Biogen’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.40 earnings per share. On average, research analysts forecast that Biogen Inc. will post 15.58 EPS for the current year.

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.