Independent Advisor Alliance Sells 5,820 Shares of Biogen Inc. (NASDAQ:BIIB)

Independent Advisor Alliance reduced its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 70.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,469 shares of the biotechnology company's stock after selling 5,820 shares during the period. Independent Advisor Alliance's holdings in Biogen were worth $378,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after purchasing an additional 141 shares in the last quarter. OFI Invest Asset Management purchased a new position in Biogen in the 4th quarter valued at about $32,000. SRS Capital Advisors Inc. purchased a new position in Biogen in the 4th quarter valued at about $33,000. Golden State Wealth Management LLC purchased a new position in Biogen in the 4th quarter valued at about $41,000. Finally, Itau Unibanco Holding S.A. boosted its position in Biogen by 63.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company's stock valued at $45,000 after buying an additional 90 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Stephen A. Sherwin sold 8,760 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company's stock.

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Biogen Stock Down 0.3 %

Shares of Biogen stock traded down $0.48 during midday trading on Friday, reaching $140.90. 3,421,107 shares of the company's stock traded hands, compared to its average volume of 1,246,248. The company has a market cap of $20.62 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company's 50 day simple moving average is $142.32 and its 200 day simple moving average is $162.85. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a 52 week low of $128.51 and a 52 week high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping 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%. Equities analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BIIB shares. Royal Bank of Canada reduced their price target on shares of Biogen from $231.00 to $225.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Bank Of America (Bofa) reduced their price target on shares of Biogen from $178.00 to $163.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus cut shares of Biogen from a "buy" rating to a "hold" rating and set a $175.00 price target on the stock. in a research report on Monday, December 16th. Sanford C. Bernstein began coverage on shares of Biogen in a research report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 price target on the stock. Finally, Wells Fargo & Company cut their target price on shares of Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock 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.