Biogen Inc. (NASDAQ:BIIB) Shares Sold by Wynn Capital LLC

Wynn Capital LLC cut its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 16.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,316 shares of the biotechnology company’s stock after selling 260 shares during the quarter. Wynn Capital LLC’s holdings in Biogen were worth $201,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BIIB. Inspire Trust Co. N.A. boosted its position in shares of Biogen by 58.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after purchasing an additional 4,025 shares during the period. Centre Asset Management LLC grew its stake in Biogen by 7.7% during the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after acquiring an additional 3,698 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Biogen by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of 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 buying an additional 5,270 shares during the period. Finally, Arlington Partners LLC grew its holdings in shares of Biogen by 34.3% during the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock valued at $3,724,000 after acquiring an additional 4,902 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

NASDAQ:BIIB opened at $143.06 on Wednesday. The firm’s 50-day moving average is $156.24 and its 200-day moving average is $186.11. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen Inc. has a 52-week low of $142.42 and a 52-week high of $252.17. The company has a market cap of $20.85 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.74 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.36 EPS. Equities research analysts anticipate that Biogen Inc. will post 16.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. StockNews.com downgraded Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. HC Wainwright restated a “buy” rating and issued a $300.00 price objective on shares of Biogen in a report on Thursday, October 31st. Wedbush reduced their target price on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Stifel Nicolaus lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research note on Monday, December 16th. Finally, Wolfe Research started coverage on shares of Biogen in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Sixteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $230.00.

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.