Biogen Inc. (NASDAQ:BIIB) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 79.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,595 shares of the biotechnology company's stock after selling 6,061 shares during the period. Farther Finance Advisors LLC's holdings in Biogen were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Biogen by 3.5% during the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company's stock valued at $1,423,747,000 after purchasing an additional 248,942 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Biogen by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company's stock valued at $698,062,000 after purchasing an additional 47,055 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock valued at $407,919,000 after purchasing an additional 2,648,024 shares during the last quarter. Amundi boosted its holdings in shares of Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company's stock valued at $183,461,000 after purchasing an additional 319,478 shares during the last quarter. Finally, RA Capital Management L.P. boosted its holdings in shares of Biogen by 20.6% during the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company's stock valued at $229,595,000 after purchasing an additional 202,317 shares during the last quarter. Institutional investors own 87.93% of the company's stock.

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Wall Street Analyst Weigh In

BIIB has been the subject of several research reports. HC Wainwright dropped their price objective on shares of Biogen from $300.00 to $241.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Piper Sandler reaffirmed a "neutral" rating and issued a $135.00 price target (down previously from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Canaccord Genuity Group lowered their price target on shares of Biogen from $298.00 to $265.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Morgan Stanley lowered their price target on shares of Biogen from $192.00 to $157.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. Finally, Bank Of America (Bofa) lowered their price target on shares of Biogen from $178.00 to $163.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Biogen presently has a consensus rating of "Hold" and a consensus price target of $213.33.

Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Biogen Stock Down 0.3 %

BIIB stock traded down $0.48 during trading on Friday, hitting $140.90. 3,437,611 shares of the company's stock traded hands, compared to its average volume of 1,246,912. The firm has a market capitalization of $20.62 billion, a P/E ratio of 12.59, a PEG ratio of 1.51 and a beta of 0.01. The business has a fifty day simple moving average of $142.16 and a two-hundred day simple moving average of $162.40. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

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.