Biogen Inc. (NASDAQ:BIIB) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 12.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,307 shares of the biotechnology company’s stock after selling 323 shares during the period. Park Avenue Securities LLC’s holdings in Biogen were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. 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 in the last quarter. Pallas Capital Advisors LLC boosted its stake in shares of Biogen by 121.1% in the fourth quarter. Pallas Capital Advisors LLC now owns 5,651 shares of the biotechnology company’s stock worth $864,000 after acquiring an additional 3,095 shares during the last quarter. Wedmont Private Capital increased its position in shares of Biogen by 187.2% during the fourth quarter. Wedmont Private Capital now owns 3,670 shares of the biotechnology company’s stock worth $546,000 after purchasing an additional 2,392 shares in the last quarter. Czech National Bank raised its stake in Biogen by 6.5% in the 4th quarter. Czech National Bank now owns 31,595 shares of the biotechnology company’s stock valued at $4,832,000 after purchasing an additional 1,923 shares during the last quarter. Finally, West Oak Capital LLC lifted its holdings in Biogen by 2,000.0% in the 4th quarter. West Oak Capital LLC now owns 945 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 900 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Price Performance

BIIB stock opened at $146.20 on Friday. Biogen Inc. has a 1 year low of $139.71 and a 1 year high of $251.99. The firm has a market capitalization of $21.30 billion, a P/E ratio of 13.21, a P/E/G ratio of 1.64 and a beta of -0.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The business’s 50-day moving average is $152.21 and its two-hundred day moving average is $182.52.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the firm earned $4.36 earnings per share. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. Analysts anticipate that Biogen Inc. will post 16.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BIIB shares. Bank of America reiterated a “neutral” rating and issued a $178.00 target price on shares of Biogen in a research report on Tuesday, December 10th. Wells Fargo & Company cut their price objective on shares of Biogen from $190.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Wolfe Research assumed coverage on Biogen in a report on Friday, November 15th. They set a “peer perform” rating on the stock. BMO Capital Markets cut Biogen from an “outperform” rating to a “market perform” rating and cut their price target for the company from $230.00 to $164.00 in a report on Friday, December 20th. Finally, Morgan Stanley lowered Biogen from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $285.00 to $204.00 in a research note on Thursday, October 31st. Sixteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Biogen presently has a consensus rating of “Hold” and a consensus price target of $230.00.

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.