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

Twin Capital Management Inc. reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,851 shares of the biotechnology company’s stock after selling 278 shares during the period. Twin Capital Management Inc.’s holdings in Biogen were worth $2,290,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Biogen by 157.5% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 430 shares of the biotechnology company’s stock worth $111,000 after acquiring an additional 263 shares in the last quarter. Everence Capital Management Inc. lifted its position in shares of Biogen by 26.6% in the 4th quarter. Everence Capital Management Inc. now owns 5,000 shares of the biotechnology company’s stock worth $1,294,000 after purchasing an additional 1,050 shares during the period. DGS Capital Management LLC lifted its position in shares of Biogen by 4.2% in the 4th quarter. DGS Capital Management LLC now owns 1,265 shares of the biotechnology company’s stock worth $327,000 after purchasing an additional 51 shares during the period. SVB Wealth LLC lifted its position in shares of Biogen by 48.0% in the 4th quarter. SVB Wealth LLC now owns 1,174 shares of the biotechnology company’s stock worth $304,000 after purchasing an additional 381 shares during the period. Finally, Mackenzie Financial Corp lifted its position in shares of Biogen by 29.5% in the 4th quarter. Mackenzie Financial Corp now owns 60,626 shares of the biotechnology company’s stock worth $15,688,000 after purchasing an additional 13,796 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Down 0.9 %

BIIB stock 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. Biogen Inc. has a 1-year low of $189.52 and a 1-year high of $319.76. The firm has a fifty day moving average price of $216.17 and a two-hundred day moving average price of $236.24. The firm has a market cap of $27.69 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 1.83 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last released its 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). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the firm earned $4.05 EPS. Research analysts predict that Biogen Inc. will post 15.48 EPS for the current year.

Wall Street Analyst Weigh In

BIIB has been the subject of several research reports. Wells Fargo & Company cut shares of Biogen from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $315.00 to $240.00 in a research report on Wednesday, February 14th. Needham & Company LLC decreased their target price on shares of Biogen from $305.00 to $300.00 and set a “buy” rating for the company in a research report on Tuesday, February 13th. Royal Bank of Canada reissued an “outperform” rating and set a $364.00 target price on shares of Biogen in a research report on Tuesday, March 5th. Wedbush decreased their target price on shares of Biogen from $245.00 to $213.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Mizuho decreased their target price on shares of Biogen from $355.00 to $277.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $296.35.

Insider Activity

In related news, insider Priya Singhal sold 419 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Priya Singhal sold 419 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric K. Rowinsky purchased 455 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, 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 quarter, insiders sold 882 shares of company stock valued at $202,030. 0.60% of the stock is currently owned by company insiders.

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.