Integrated Wealth Concepts LLC Decreases Holdings in Biogen Inc. (NASDAQ:BIIB)

Integrated Wealth Concepts LLC reduced its position in Biogen Inc. (NASDAQ:BIIB) by 61.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,571 shares of the biotechnology company’s stock after selling 2,485 shares during the period. Integrated Wealth Concepts LLC’s holdings in Biogen were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in Biogen in the second quarter valued at about $33,000. Ashton Thomas Securities LLC bought a new position in shares of Biogen in the 3rd quarter worth approximately $33,000. Blue Trust Inc. boosted its holdings in shares of Biogen by 249.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after buying an additional 127 shares during the last quarter. First Horizon Advisors Inc. grew its position in Biogen by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 49 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 93 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 1.4 %

Shares of NASDAQ BIIB opened at $155.33 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $172.51 and a two-hundred day simple moving average of $199.19. The firm has a market cap of $22.63 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.49 and a beta of -0.08. Biogen Inc. has a twelve month low of $153.62 and a twelve month high of $268.30.

Biogen (NASDAQ:BIIB) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $4.36 EPS. Analysts expect that Biogen Inc. will post 16.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BIIB shares. TD Cowen dropped their price target on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Robert W. Baird boosted their price target on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Mizuho decreased their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Royal Bank of Canada cut their price objective on Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, Bank of America restated a “neutral” rating and set a $178.00 target price on shares of Biogen in a research note on Tuesday. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $249.80.

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.