Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 230 Shares of Biogen Inc. (NASDAQ:BIIB)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its position in Biogen Inc. (NASDAQ:BIIB) by 3.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,479 shares of the biotechnology company’s stock after selling 230 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Biogen were worth $1,598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in Biogen by 0.5% in 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 during the period. Northern Trust Corp grew its stake in Biogen by 2.8% in the third quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock worth $422,276,000 after purchasing an additional 45,437 shares during the period. Morgan Stanley grew its stake in shares of Biogen by 4.3% in the third quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock worth $383,745,000 after acquiring an additional 61,814 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Biogen by 24.5% in the third quarter. Van ECK Associates Corp now owns 1,189,546 shares of the biotechnology company’s stock worth $305,725,000 after acquiring an additional 233,889 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Biogen by 19.1% in the third quarter. Invesco Ltd. now owns 1,181,374 shares of the biotechnology company’s stock worth $303,625,000 after acquiring an additional 189,368 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Eric K. Rowinsky acquired 455 shares of the company’s stock in a transaction on 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 completion of the acquisition, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the transaction, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. Insiders sold 882 shares of company stock worth $202,030 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Biogen Stock Down 0.2 %

BIIB stock traded down $0.41 on Tuesday, hitting $193.70. 536,474 shares of the company’s stock were exchanged, compared to its average volume of 1,152,911. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $319.76. The firm has a 50 day moving average price of $214.22 and a two-hundred day moving average price of $235.11. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. The stock has a market cap of $28.16 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 1.85 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.18 by ($0.23). The company had revenue of $2.39 billion during 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 last year, the firm earned $4.05 EPS. As a group, equities research analysts expect that Biogen Inc. will post 15.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BIIB shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $311.00 target price on shares of Biogen in a research note on Tuesday, February 20th. BTIG Research reaffirmed a “neutral” rating on shares of Biogen in a research report on Sunday, January 7th. Bank Of America (Bofa) dropped their price objective on Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a research report on Monday, February 12th. Barclays dropped their price objective on Biogen from $230.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. dropped their price objective on Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $295.58.

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.