Biogen Inc. (NASDAQ:BIIB) Position Increased by Channing Capital Management LLC

Channing Capital Management LLC boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 13.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,103 shares of the biotechnology company’s stock after buying an additional 4,077 shares during the quarter. Channing Capital Management LLC’s holdings in Biogen were worth $8,825,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services LLC raised its holdings in shares of Biogen by 1.9% during the third quarter. Commonwealth Equity Services LLC now owns 23,416 shares of the biotechnology company’s stock valued at $6,018,000 after acquiring an additional 433 shares during the period. Raymond James & Associates lifted its holdings in shares of Biogen by 5.6% in the third quarter. Raymond James & Associates now owns 152,260 shares of the biotechnology company’s stock valued at $39,132,000 after purchasing an additional 8,029 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Biogen by 1.1% in the third quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock valued at $1,036,000 after purchasing an additional 42 shares in the last quarter. Stratos Wealth Advisors LLC boosted its position in shares of Biogen by 20.0% in the third quarter. Stratos Wealth Advisors LLC now owns 877 shares of the biotechnology company’s stock worth $225,000 after buying an additional 146 shares during the period. Finally, Brown Advisory Inc. grew its holdings in shares of Biogen by 2.6% during the third quarter. Brown Advisory Inc. now owns 169,022 shares of the biotechnology company’s stock valued at $43,440,000 after buying an additional 4,219 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of Biogen stock traded up $4.00 during midday trading on Friday, hitting $217.51. The company had a trading volume of 1,144,154 shares, compared to its average volume of 1,334,818. Biogen Inc. has a 1-year low of $189.44 and a 1-year high of $319.76. The business’s 50 day simple moving average is $212.00 and its two-hundred day simple moving average is $231.62. The stock has a market cap of $31.67 billion, a PE ratio of 27.15, a P/E/G ratio of 2.21 and a beta of -0.01. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the firm earned $3.40 EPS. The business’s revenue was down 7.0% on a year-over-year basis. As a group, equities analysts predict that Biogen Inc. will post 15.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BIIB. JPMorgan Chase & Co. lowered their price objective on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Bank Of America (Bofa) dropped their price target on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Monday, February 12th. StockNews.com cut Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Wells Fargo & Company lowered Biogen from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $315.00 to $240.00 in a research report on Wednesday, February 14th. Finally, BTIG Research reiterated a “neutral” rating on shares of Biogen in a report on Sunday, January 7th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $290.92.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 419 shares of the business’s stock in a transaction that occurred 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 sale, 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 accessible through the SEC website. In other news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were 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 of the company’s stock, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric K. Rowinsky bought 455 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the purchase, 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 worth $202,030 over the last three months. Company insiders own 0.60% of the company’s stock.

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.