Core Insights - J. L. Bainbridge & Co. sold 119,376 shares of Biogen for approximately $16.1 million during the third quarter, significantly reducing its holdings to just 2,969 shares valued at $415,898 as of September 30 [2][7] Company Overview - Biogen specializes in therapies for complex neurological and neurodegenerative conditions, with a diversified product suite and a robust pipeline [6][10] - As of the latest market close, Biogen's stock price was $143, with a market capitalization of $21 billion, revenue of $10 billion, and net income of $1.5 billion for the trailing twelve months [4] Financial Performance - Biogen's shares have declined by 23% over the past year, despite a strong second-quarter report showing a 7% year-over-year revenue growth to $2.6 billion and raised full-year guidance [3][8] - The company highlighted growth in its Alzheimer's therapy LEQEMBI, rare-disease drug SKYCLARYS, and postpartum-depression treatment ZURZUVAE, indicating strong execution in reshaping its portfolio for sustainable growth [11] Investment Strategy - J. L. Bainbridge's decision to significantly reduce its Biogen holdings aligns with its strategy to concentrate on proven large-cap growth names like Microsoft, Apple, and Alphabet [12] - The upcoming earnings report on October 30 will be crucial for assessing whether Biogen's new drug launches can offset the decline in its older franchises [12]