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

Integrated Advisors Network LLC decreased its stake in Biogen Inc. (NASDAQ:BIIB) by 28.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 802 shares of the biotechnology company’s stock after selling 326 shares during the quarter. Integrated Advisors Network LLC’s holdings in Biogen were worth $208,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Gladius Capital Management LP acquired a new position in Biogen during the third quarter worth about $28,000. Hexagon Capital Partners LLC boosted its position in Biogen by 76.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 51 shares during the last quarter. KB Financial Partners LLC boosted its position in Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 62 shares during the last quarter. CVA Family Office LLC acquired a new position in Biogen during the fourth quarter worth about $36,000. Finally, Baker Avenue Asset Management LP boosted its position in Biogen by 215.5% during the third quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock worth $47,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

Shares of BIIB opened at $223.65 on Thursday. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $298.73. The firm’s 50 day moving average price is $217.95 and its 200 day moving average price is $229.15. The company has a market cap of $32.56 billion, a P/E ratio of 27.92, a PEG ratio of 2.28 and a beta of -0.02. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the firm earned $3.40 EPS. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, research analysts forecast that Biogen Inc. will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Mizuho lowered their price target on shares of Biogen from $355.00 to $277.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Bank of America decreased their target price on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. JPMorgan Chase & Co. decreased their target price on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $317.00 target price on shares of Biogen in a report on Wednesday, June 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $300.00 target price on shares of Biogen in a report on Thursday, May 23rd. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.