Massachusetts Wealth Management Sells 300 Shares of Biogen Inc. (NASDAQ:BIIB)

Massachusetts Wealth Management reduced its position in Biogen Inc. (NASDAQ:BIIB) by 9.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,950 shares of the biotechnology company’s stock after selling 300 shares during the quarter. Massachusetts Wealth Management’s holdings in Biogen were worth $636,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Livelsberger Financial Advisory bought a new stake in shares of Biogen in the fourth quarter valued at about $26,000. Rise Advisors LLC bought a new position in Biogen in the first quarter worth about $27,000. Gladius Capital Management LP bought a new position in Biogen in the third quarter worth about $28,000. KB Financial Partners LLC raised its holdings in Biogen by 105.1% in the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 62 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its holdings in Biogen by 76.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 51 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Performance

Biogen stock traded down $4.21 during mid-day trading on Thursday, hitting $224.61. The company had a trading volume of 580,741 shares, compared to its average volume of 1,025,765. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $287.60. The company’s fifty day moving average is $223.69 and its 200-day moving average is $228.05. The company has a market capitalization of $32.70 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 2.30 and a beta of -0.04.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.45 by $0.22. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.40 EPS. Equities research analysts predict that Biogen Inc. will post 15.63 EPS for the current year.

Analyst Ratings Changes

BIIB has been the subject of a number of recent research reports. Barclays reduced their target price on shares of Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Bank of America reduced their target price on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Friday, April 12th. HSBC boosted their price target on Biogen from $339.00 to $342.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, William Blair restated an “outperform” rating on shares of Biogen in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $286.50.

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.