Twin Capital Management Inc. Sells 278 Shares of Biogen Inc. (NASDAQ:BIIB)

Twin Capital Management Inc. lowered its position in shares of Biogen Inc. (NASDAQ:BIIB) by 3.0% in the 4th quarter, HoldingsChannel reports. The firm owned 8,851 shares of the biotechnology company’s stock after selling 278 shares during the quarter. Twin Capital Management Inc.’s holdings in Biogen were worth $2,290,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. ICICI Prudential Asset Management Co Ltd lifted its stake in Biogen by 15.0% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock worth $9,313,000 after purchasing an additional 4,693 shares during the last quarter. Boone Capital Management LLC lifted its stake in Biogen by 52.9% during the third quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock worth $24,703,000 after purchasing an additional 33,238 shares during the last quarter. iA Global Asset Management Inc. lifted its stake in Biogen by 35.2% during the third quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock worth $3,102,000 after purchasing an additional 3,145 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in Biogen by 13.8% during the third quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock worth $17,577,000 after purchasing an additional 8,291 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its stake in Biogen by 6.2% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock worth $1,251,000 after purchasing an additional 285 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 262 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now directly owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Priya Singhal sold 262 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now directly owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eric K. Rowinsky purchased 455 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the purchase, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 882 shares of company stock valued at $202,030. 0.60% of the stock is currently owned by insiders.

Biogen Stock Down 0.9 %

Shares of NASDAQ BIIB opened at $190.52 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. The company has a market cap of $27.69 billion, a P/E ratio of 23.87, a PEG ratio of 1.83 and a beta of -0.02. Biogen Inc. has a 1 year low of $189.52 and a 1 year high of $319.76. The firm has a 50-day simple moving average of $216.17 and a two-hundred day simple moving average of $236.24.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share 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 the consensus estimate 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 prior year, the firm posted $4.05 EPS. Research analysts anticipate that Biogen Inc. will post 15.48 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Bank of America lowered their target price on Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Wedbush lowered their target price on Biogen from $245.00 to $213.00 and set a “neutral” rating for the company in a research note on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $364.00 price target on shares of Biogen in a research report on Tuesday, March 5th. HC Wainwright reaffirmed a “buy” rating and set a $325.00 price target on shares of Biogen in a research report on Wednesday, February 14th. Finally, UBS Group lowered their price target on Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus price target of $296.35.

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.