Biogen Inc. (NASDAQ:BIIB) Shares Sold by Integrated Advisors Network LLC

Integrated Advisors Network LLC decreased its holdings in Biogen Inc. (NASDAQ:BIIB) by 28.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 802 shares of the biotechnology company’s stock after selling 326 shares during the period. Integrated Advisors Network LLC’s holdings in Biogen were worth $208,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Primecap Management Co. CA raised its holdings in Biogen by 1.6% in the fourth quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock valued at $4,208,760,000 after buying an additional 251,915 shares during the period. Wellington Management Group LLP raised its holdings in Biogen by 0.5% in the third quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock valued at $1,381,251,000 after buying an additional 27,951 shares during the period. Northern Trust Corp raised its holdings in Biogen by 2.8% in the third quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock valued at $422,276,000 after buying an additional 45,437 shares during the period. Morgan Stanley raised its holdings in Biogen by 4.3% in the third quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock valued at $383,745,000 after buying an additional 61,814 shares during the period. Finally, Norges Bank purchased a new position in Biogen in the fourth quarter valued at approximately $378,728,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $300.00 price target on shares of Biogen in a report on Thursday, May 23rd. Bank of America dropped their price objective on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Oppenheimer reiterated an “outperform” rating and set a $270.00 price objective on shares of Biogen in a research note on Monday, April 29th. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Monday, April 1st. Finally, Barclays dropped their price objective on shares of Biogen from $215.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Biogen has an average rating of “Moderate Buy” and a consensus price target of $286.50.

Biogen Stock Performance

Biogen stock opened at $223.65 on Thursday. The company has a market cap of $32.56 billion, a PE ratio of 27.92, a P/E/G ratio of 2.28 and a beta of -0.02. The company has a fifty day moving average price of $217.95 and a two-hundred day moving average price of $229.15. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32. Biogen Inc. has a 12 month low of $189.44 and a 12 month high of $298.73.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The firm’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.40 earnings per share. Research analysts expect that Biogen Inc. will post 15.63 earnings per share 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.