Stratos Wealth Partners LTD. Lowers Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Stratos Wealth Partners LTD. lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 15.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,696 shares of the biotechnology company’s stock after selling 500 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Biogen were worth $412,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of recent research reports. Bank Of America (Bofa) reduced their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday. Bank of America reiterated a “neutral” rating and set a $178.00 price objective on shares of Biogen in a research note on Tuesday, December 10th. Wolfe Research assumed coverage on shares of Biogen in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Sanford C. Bernstein assumed coverage on shares of Biogen in a research note on Tuesday. They set a “market perform” rating and a $160.00 price objective on the stock. Finally, Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $285.00 to $204.00 in a research note on Thursday, October 31st. Seventeen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $221.65.

Biogen Price Performance

NASDAQ BIIB opened at $133.43 on Thursday. The stock’s 50-day moving average price is $148.28 and its two-hundred day moving average price is $174.33. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The company has a market cap of $19.44 billion, a PE ratio of 12.05, a PEG ratio of 1.65 and a beta of -0.08. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. On average, analysts predict that Biogen Inc. will post 16.42 EPS for the current year.

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.