OneDigital Investment Advisors LLC Has $220,000 Position in Biogen Inc. (NASDAQ:BIIB)

OneDigital Investment Advisors LLC lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 17.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,137 shares of the biotechnology company’s stock after selling 243 shares during the period. OneDigital Investment Advisors LLC’s holdings in Biogen were worth $220,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Primecap Management Co. CA grew its position in Biogen by 0.7% during the second quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock worth $3,787,543,000 after buying an additional 117,578 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Biogen by 5.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock valued at $342,772,000 after buying an additional 81,283 shares during the period. RA Capital Management L.P. increased its holdings in Biogen by 39.0% in the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after purchasing an additional 207,835 shares during the last quarter. abrdn plc raised its position in shares of Biogen by 6.2% in the 3rd quarter. abrdn plc now owns 568,510 shares of the biotechnology company’s stock valued at $110,123,000 after acquiring an additional 33,333 shares during the period. Finally, TD Asset Management Inc boosted its position in shares of Biogen by 3.7% during the second quarter. TD Asset Management Inc now owns 380,788 shares of the biotechnology company’s stock worth $88,274,000 after purchasing an additional 13,552 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Needham & Company LLC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 price objective on the stock. in a report on Monday, November 18th. Mizuho reduced their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research note on Thursday. Wells Fargo & Company cut their price objective on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Wedbush dropped their price objective on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Finally, Truist Financial restated a “buy” rating and set a $302.00 price objective (down previously from $340.00) on shares of Biogen in a research note on Monday, August 5th. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.20.

Biogen Stock Down 0.1 %

NASDAQ:BIIB opened at $157.90 on Friday. The firm’s 50 day simple moving average is $181.85 and its 200 day simple moving average is $205.32. The company has a market cap of $23.01 billion, a PE ratio of 14.26, a P/E/G ratio of 1.47 and a beta of -0.06. Biogen Inc. has a one year low of $153.62 and a one year high of $268.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.36 EPS. On average, research analysts anticipate that Biogen Inc. will post 16.45 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares of the company’s stock, valued at $1,085,633.52. The trade was a 7.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

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.