Steward Partners Investment Advisory LLC Cuts Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Steward Partners Investment Advisory LLC trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB) by 31.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,481 shares of the biotechnology company’s stock after selling 691 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Biogen were worth $226,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in Biogen in the 3rd quarter worth $33,000. SRS Capital Advisors Inc. purchased a new stake in Biogen in the 4th quarter worth $33,000. Venturi Wealth Management LLC increased its holdings in Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. increased its holdings in Biogen by 63.8% in the 3rd 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 in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in Biogen in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the transaction, the director now owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Biogen Trading Down 0.4 %

Shares of BIIB stock opened at $139.44 on Friday. The company’s 50-day moving average price is $143.09 and its 200-day moving average price is $164.57. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The stock has a market cap of $20.41 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating 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%. As a group, equities analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on BIIB shares. Bank of America reissued a “neutral” rating and issued a $178.00 price target on shares of Biogen in a report on Tuesday, December 10th. Mizuho cut their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Scotiabank dropped their target price on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. Stifel Nicolaus lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a report on Monday, December 16th. Finally, StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.