Biogen Inc. (NASDAQ:BIIB) Shares Sold by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. cut its position in Biogen Inc. (NASDAQ:BIIB) by 8.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,260 shares of the biotechnology company’s stock after selling 600 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in Biogen were worth $857,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Bleakley Financial Group LLC grew its holdings in Biogen by 49.9% in the 4th quarter. Bleakley Financial Group LLC now owns 1,608 shares of the biotechnology company’s stock worth $246,000 after buying an additional 535 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Biogen during the 4th quarter worth $41,000. Savant Capital LLC grew its stake in shares of Biogen by 11.3% in the fourth quarter. Savant Capital LLC now owns 4,179 shares of the biotechnology company’s stock worth $639,000 after purchasing an additional 423 shares in the last quarter. Quent Capital LLC increased 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 during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Biogen by 2.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 6,843 shares of the biotechnology company’s stock valued at $1,026,000 after purchasing an additional 183 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BIIB shares. Piper Sandler decreased their target price on shares of Biogen from $135.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Mizuho reduced their price target on shares of Biogen from $207.00 to $169.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Hsbc Global Res cut shares of Biogen from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a report on Thursday. Finally, Oppenheimer set a $205.00 price target on Biogen in a research note on Friday, May 2nd. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Biogen has an average rating of “Hold” and a consensus target price of $191.30.

Biogen Price Performance

Shares of Biogen stock opened at $133.06 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The company has a market cap of $19.50 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.51 and a beta of 0.14. The firm has a fifty day moving average price of $123.15 and a two-hundred day moving average price of $137.95. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $238.00.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the company posted $3.67 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts expect that Biogen Inc. will post 15.83 EPS for the current 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.