Nwam LLC Reduces Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Nwam LLC reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 13.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,152 shares of the biotechnology company’s stock after selling 173 shares during the quarter. Nwam LLC’s holdings in Biogen were worth $223,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in shares of Biogen by 3.2% in 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 during the period. Arlington Partners LLC raised its holdings in Biogen by 34.3% in the third quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock worth $3,724,000 after purchasing an additional 4,902 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 buying an additional 12,319 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Biogen by 235.1% during the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock valued at $3,204,000 after buying an additional 10,425 shares in the last quarter. Finally, National Pension Service grew its position in shares of Biogen by 10.1% in the 3rd quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock worth $69,699,000 after buying an additional 32,914 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Wells Fargo & Company lowered their target price on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Morgan Stanley downgraded Biogen from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $285.00 to $204.00 in a research note on Thursday, October 31st. UBS Group lowered their price objective on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Finally, BMO Capital Markets cut their target price on Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $257.20.

Biogen Stock Performance

Shares of Biogen stock opened at $158.71 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The business’s 50 day moving average price is $181.03 and its 200 day moving average price is $204.67. The company has a market cap of $23.13 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.49 and a beta of -0.06. Biogen Inc. has a one year low of $153.62 and a one year high of $268.30.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the firm posted $4.36 earnings per share. Biogen’s quarterly revenue was down 2.5% on a year-over-year basis. On average, research analysts predict that Biogen Inc. will post 16.44 EPS for the current year.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now owns 5,316 shares of the company’s stock, valued at $1,085,633.52. This trade represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.16% of the company’s stock.

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.