Biogen Inc. (NASDAQ:BIIB) Holdings Reduced by Allworth Financial LP

Allworth Financial LP lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 53.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 548 shares of the biotechnology company’s stock after selling 633 shares during the period. Allworth Financial LP’s holdings in Biogen were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in BIIB. Strategic Financial Concepts LLC acquired a new stake in Biogen in the 4th quarter valued at approximately $2,993,000. Principal Securities Inc. grew its stake in shares of Biogen by 30.1% in the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 78 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Biogen by 21.6% during the fourth quarter. Blue Trust Inc. now owns 574 shares of the biotechnology company’s stock valued at $88,000 after purchasing an additional 102 shares in the last quarter. Banque Pictet & Cie SA lifted its holdings in Biogen by 106.6% in the fourth quarter. Banque Pictet & Cie SA now owns 63,494 shares of the biotechnology company’s stock worth $9,710,000 after purchasing an additional 32,759 shares during the period. Finally, V Square Quantitative Management LLC lifted its holdings in Biogen by 4.7% in the fourth quarter. V Square Quantitative Management LLC now owns 4,015 shares of the biotechnology company’s stock worth $614,000 after purchasing an additional 180 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Price Performance

Shares of BIIB opened at $141.27 on Tuesday. The business’s 50-day moving average is $144.97 and its 200-day moving average is $169.97. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The company has a market capitalization of $20.68 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 1.47 and a beta of -0.08. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, January 13th. Wells Fargo & Company dropped their target price on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group lowered their price target on Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Finally, BMO Capital Markets lowered their target price on Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a report on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $213.33.

Biogen Company 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.