Biogen Inc. (NASDAQ:BIIB) Position Lessened by Private Advisor Group LLC

Private Advisor Group LLC lowered its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 38.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,897 shares of the biotechnology company's stock after selling 3,748 shares during the quarter. Private Advisor Group LLC's holdings in Biogen were worth $902,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in BIIB. Inspire Trust Co. N.A. lifted its holdings in shares of Biogen by 58.5% in the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company's stock valued at $2,113,000 after purchasing an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Biogen by 0.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company's stock valued at $6,646,000 after acquiring an additional 111 shares in the last quarter. Centre Asset Management LLC boosted its stake in shares of Biogen by 7.7% during the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company's stock valued at $7,880,000 after acquiring an additional 3,698 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company's stock worth $176,982,000 after purchasing an additional 12,319 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Biogen by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company's stock worth $32,687,000 after purchasing an additional 5,270 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Up 0.1 %

Biogen stock traded up $0.11 during midday trading on Tuesday, hitting $141.82. The stock had a trading volume of 1,811,551 shares, compared to its average volume of 1,478,056. 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 business has a fifty day moving average price of $144.28 and a 200 day moving average price of $167.83. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00. The stock has a market cap of $20.76 billion, a P/E ratio of 12.68, a P/E/G ratio of 1.51 and a beta of -0.08.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results 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 return on equity of 14.98% and a net margin of 16.87%. Research analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BIIB shares. Wells Fargo & Company decreased their price target on shares of Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Mizuho lowered their target price on shares of Biogen from $251.00 to $207.00 and set an "outperform" rating for the company in a research note on Thursday, November 21st. HC Wainwright reduced their price target on Biogen from $300.00 to $241.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. The Goldman Sachs Group decreased their price objective on Biogen from $281.00 to $245.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Jefferies Financial Group lowered Biogen from a "buy" rating to a "hold" rating and dropped their target price for the company from $250.00 to $180.00 in a research note on Monday, December 9th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $213.33.

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.