Calamos Advisors LLC Decreases Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Calamos Advisors LLC reduced its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,798 shares of the biotechnology company’s stock after selling 520 shares during the quarter. Calamos Advisors LLC’s holdings in Biogen were worth $10,299,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Biogen by 1.6% during the first quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock worth $2,468,356,000 after purchasing an additional 183,285 shares in the last quarter. State Street Corp lifted its position in shares of Biogen by 2.8% during the first quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company’s stock worth $1,518,196,000 after purchasing an additional 197,400 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Biogen by 0.5% during the third quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock worth $1,381,251,000 after purchasing an additional 27,951 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Biogen by 49.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company’s stock worth $580,627,000 after purchasing an additional 691,843 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Biogen by 2.8% in the third quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock valued at $422,276,000 after acquiring an additional 45,437 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Biogen

In other Biogen news, Director Eric K. Rowinsky acquired 455 shares of the stock in a transaction dated Thursday, February 15th. The shares were bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Biogen news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now directly owns 4,886 shares in the company, valued at $1,080,929.78. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eric K. Rowinsky bought 455 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was purchased at an average price 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 of the company’s stock, valued at $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 quarter. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

BIIB has been the topic of several recent analyst reports. Oppenheimer cut their price target on shares of Biogen from $290.00 to $270.00 and set an “outperform” rating on the stock in a report on Friday. UBS Group cut their price target on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a report on Wednesday. Needham & Company LLC cut their price target on shares of Biogen from $305.00 to $300.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. Canaccord Genuity Group cut their price target on shares of Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. Finally, BTIG Research reissued a “neutral” rating on shares of Biogen in a report on Sunday, January 7th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Biogen presently has a consensus rating of “Moderate Buy” and an average target price of $295.58.

Biogen Stock Up 2.0 %

Biogen stock opened at $194.38 on Friday. The stock has a market cap of $28.26 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.81 and a beta of -0.02. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average price is $215.23 and its two-hundred day moving average price is $235.83. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76.

Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing the consensus estimate of $3.18 by ($0.23). The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same period in the previous year, the business posted $4.05 EPS. On average, analysts expect that Biogen Inc. will post 15.47 EPS for the current fiscal year.

About Biogen

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.