Biogen Inc. (NASDAQ:BIIB) Stock Position Reduced by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its position in Biogen Inc. (NASDAQ:BIIB) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,321 shares of the biotechnology company’s stock after selling 1,218 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Biogen were worth $1,884,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Biogen during the third quarter worth $33,000. Venturi Wealth Management LLC raised its stake in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares during the period. Itau Unibanco Holding S.A. lifted its holdings in Biogen by 63.8% in the third 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. Versant Capital Management Inc boosted its stake in Biogen by 228.7% in the fourth quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 279 shares during the period. Finally, FSA Wealth Management LLC bought a new position in shares of Biogen during the third quarter valued at approximately $74,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BIIB. William Blair restated an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Oppenheimer lowered their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Bank of America reiterated a “neutral” rating and issued a $178.00 price objective on shares of Biogen in a research report on Tuesday, December 10th. Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and decreased their target price for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Finally, TD Cowen cut their price target on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Sixteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $228.80.

Biogen Trading Down 1.6 %

NASDAQ:BIIB opened at $143.93 on Monday. The company has a market cap of $20.97 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 1.66 and a beta of -0.07. Biogen Inc. has a twelve month low of $139.71 and a twelve month high of $251.99. The business has a 50 day moving average price of $150.79 and a two-hundred day moving average price of $178.71. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

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.