Biogen Inc. (NASDAQ:BIIB) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC lessened its stake in Biogen Inc. (NASDAQ:BIIB) by 9.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,712 shares of the biotechnology company’s stock after selling 184 shares during the quarter. Wealthspire Advisors LLC’s holdings in Biogen were worth $262,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BIIB. Inspire Trust Co. N.A. raised its stake in shares of Biogen by 58.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after acquiring an additional 4,025 shares during the period. Assenagon Asset Management S.A. increased its stake in Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after buying an additional 111 shares during the period. Centre Asset Management LLC increased its stake in Biogen by 7.7% during the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after buying an additional 3,698 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after buying an additional 12,319 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Biogen by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock worth $32,687,000 after buying an additional 5,270 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Down 0.4 %

Shares of NASDAQ:BIIB opened at $139.88 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The company has a market cap of $20.47 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.51 and a beta of -0.08. Biogen Inc. has a 52 week low of $128.51 and a 52 week high of $238.00. The firm has a 50 day simple moving average of $144.55 and a 200 day simple moving average of $169.15.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Ratings Changes

BIIB has been the topic of several analyst reports. Bank of America reaffirmed a “neutral” rating and set a $178.00 price target on shares of Biogen in a research note on Tuesday, December 10th. Oppenheimer dropped their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Wolfe Research assumed coverage on shares of Biogen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, Scotiabank dropped their target price on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Biogen currently has a consensus rating of “Hold” and a consensus price target of $213.33.

Biogen Company 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.