Horizon Investments LLC Sells 397 Shares of Biogen Inc. (NASDAQ:BIIB)

Horizon Investments LLC cut its position in shares of Biogen Inc. (NASDAQ:BIIB) by 16.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,041 shares of the biotechnology company’s stock after selling 397 shares during the quarter. Horizon Investments LLC’s holdings in Biogen were worth $312,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of BIIB. Larson Financial Group LLC increased its position in shares of Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Biogen during the 4th quarter valued at about $32,000. SRS Capital Advisors Inc. bought a new position in Biogen during the 4th quarter worth approximately $33,000. Golden State Wealth Management LLC bought a new position in Biogen during the 4th quarter worth approximately $41,000. Finally, Itau Unibanco Holding S.A. grew its position in Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 90 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by company insiders.

Biogen Stock Down 0.0 %

Shares of NASDAQ:BIIB opened at $141.38 on Friday. The stock has a fifty day simple moving average of $142.32 and a two-hundred day simple moving average of $162.85. The stock has a market capitalization of $20.69 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the topic of several recent research reports. Bank of America restated a “neutral” rating and set a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research report on Monday, December 16th. Royal Bank of Canada reduced their price target on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Bank Of America (Bofa) reduced their price target on Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Finally, Truist Financial reduced their price target on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Biogen presently has a consensus rating of “Hold” and an average target price of $213.33.

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.