J. L. Bainbridge & Co. Inc. Trims Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

J. L. Bainbridge & Co. Inc. trimmed its position in Biogen Inc. (NASDAQ:BIIB) by 19.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,983 shares of the biotechnology company’s stock after selling 23,159 shares during the period. Biogen accounts for 1.4% of J. L. Bainbridge & Co. Inc.’s portfolio, making the stock its 21st biggest position. J. L. Bainbridge & Co. Inc.’s holdings in Biogen were worth $14,984,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Grandfield & Dodd LLC boosted its holdings in Biogen by 5.2% in the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock worth $244,000 after acquiring an additional 62 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 72 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Biogen by 25.0% during the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of Biogen by 30.1% during the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 78 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in shares of Biogen by 3.5% during the third quarter. Huntington National Bank now owns 2,308 shares of the biotechnology company’s stock valued at $447,000 after purchasing an additional 79 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BIIB has been the topic of a number of research analyst reports. Canaccord Genuity Group lowered their price target on Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. HC Wainwright lowered their price target on Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Morgan Stanley lowered their price target on Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. William Blair reissued an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Finally, Sanford C. Bernstein initiated coverage on Biogen in a report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 target price on the stock. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Biogen currently has a consensus rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Performance

NASDAQ:BIIB opened at $139.44 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The stock has a 50-day moving average price of $143.09 and a 200 day moving average price of $164.57. The stock has a market capitalization of $20.41 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Equities research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by company insiders.

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.