Court Place Advisors LLC Sells 2,913 Shares of Biogen Inc. (NASDAQ:BIIB)

Court Place Advisors LLC cut its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 33.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,688 shares of the biotechnology company's stock after selling 2,913 shares during the period. Court Place Advisors LLC's holdings in Biogen were worth $870,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BIIB. Ashton Thomas Securities LLC acquired a new stake in shares of Biogen in the 3rd quarter valued at about $33,000. Venturi Wealth Management LLC lifted its position in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company's stock worth $42,000 after acquiring an additional 93 shares during the last quarter. Itau Unibanco Holding S.A. boosted its position in shares of Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company's stock valued at $45,000 after acquiring an additional 90 shares during the period. Versant Capital Management Inc increased its stake in Biogen by 228.7% during the 4th quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company's stock worth $61,000 after acquiring an additional 279 shares during the period. Finally, FSA Wealth Management LLC bought a new stake in shares of Biogen during the 3rd quarter worth $74,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Biogen Stock Performance

BIIB traded down $3.27 during trading hours on Tuesday, hitting $145.49. The stock had a trading volume of 1,301,717 shares, compared to its average volume of 1,280,433. Biogen Inc. has a 1 year low of $139.71 and a 1 year high of $251.99. The company's fifty day simple moving average is $151.75 and its 200 day simple moving average is $180.64. The stock has a market cap of $21.20 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.64 and a beta of -0.07. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating analysts' consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same period in the prior year, the company posted $4.36 EPS. Biogen's revenue was down 2.5% compared to the same quarter last year. Equities analysts anticipate that Biogen Inc. will post 16.41 earnings per share for the current year.

Analysts Set New Price Targets

BIIB has been the topic of a number of research analyst reports. Jefferies Financial Group lowered shares of Biogen from a "buy" rating to a "hold" rating and cut their target price for the company from $250.00 to $180.00 in a research report on Monday, December 9th. Piper Sandler cut Biogen from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $315.00 to $138.00 in a research note on Thursday, January 2nd. Wolfe Research initiated coverage on Biogen in a research note on Friday, November 15th. They set a "peer perform" rating on the stock. StockNews.com lowered Biogen from a "strong-buy" rating to a "buy" rating in a research report on Saturday, December 28th. Finally, Citigroup reduced their price target on shares of Biogen from $190.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday. Sixteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $228.80.

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.