Auxier Asset Management Sells 385 Shares of Biogen Inc. (NASDAQ:BIIB)

Auxier Asset Management decreased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 16,220 shares of the biotechnology company’s stock after selling 385 shares during the quarter. Auxier Asset Management’s holdings in Biogen were worth $3,760,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Ensign Peak Advisors Inc raised its holdings in Biogen by 27.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 34,581 shares of the biotechnology company’s stock valued at $8,017,000 after acquiring an additional 7,505 shares in the last quarter. Sompo Asset Management Co. Ltd. raised its stake in shares of Biogen by 36.4% in the second quarter. Sompo Asset Management Co. Ltd. now owns 1,460 shares of the biotechnology company’s stock valued at $338,000 after purchasing an additional 390 shares in the last quarter. Sei Investments Co. lifted its position in Biogen by 16.5% in the second quarter. Sei Investments Co. now owns 105,351 shares of the biotechnology company’s stock worth $24,422,000 after purchasing an additional 14,900 shares during the period. Pacer Advisors Inc. boosted its stake in Biogen by 12.7% during the second quarter. Pacer Advisors Inc. now owns 19,066 shares of the biotechnology company’s stock worth $4,420,000 after buying an additional 2,149 shares in the last quarter. Finally, AE Wealth Management LLC bought a new stake in Biogen in the 2nd quarter valued at $259,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Trading Down 1.0 %

Shares of BIIB opened at $199.36 on Friday. The stock’s fifty day simple moving average is $207.31 and its 200-day simple moving average is $215.02. The firm has a market capitalization of $29.03 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 2.01 and a beta of -0.06. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $269.43. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the prior year, the company posted $4.02 EPS. The company’s revenue was up .4% compared to the same quarter last year. As a group, research analysts predict that Biogen Inc. will post 16.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BIIB. Cantor Fitzgerald reiterated an “overweight” rating and set a $292.00 target price on shares of Biogen in a research report on Monday, September 9th. Needham & Company LLC reiterated a “buy” rating and issued a $285.00 price objective on shares of Biogen in a research note on Wednesday, September 4th. Wedbush dropped their target price on Biogen from $215.00 to $210.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Barclays decreased their price target on Biogen from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, Piper Sandler dropped their price objective on Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $275.52.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 431 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

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.