Sanctuary Advisors LLC Decreases Stake in Biogen Inc. (NASDAQ:BIIB)

Sanctuary Advisors LLC trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 33.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,965 shares of the biotechnology company’s stock after selling 2,016 shares during the quarter. Sanctuary Advisors LLC’s holdings in Biogen were worth $769,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its position in shares of Biogen by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Biogen by 3.2% in the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock worth $32,687,000 after buying an additional 5,270 shares during the last quarter. Arlington Partners LLC raised its holdings in Biogen by 34.3% in the third quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock valued at $3,724,000 after acquiring an additional 4,902 shares in the last quarter. Edgestream Partners L.P. boosted its stake in Biogen by 1,107.5% during the 3rd quarter. Edgestream Partners L.P. now owns 11,218 shares of the biotechnology company’s stock valued at $2,174,000 after acquiring an additional 10,289 shares during the last quarter. Finally, National Pension Service grew its holdings in Biogen by 10.1% during the 3rd quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock worth $69,699,000 after acquiring an additional 32,914 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on BIIB shares. TD Cowen reduced their price target on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Citigroup assumed coverage on Biogen in a report on Thursday, November 14th. They set a “neutral” rating and a $190.00 target price on the stock. Barclays lowered their price target on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and dropped their target price for the stock from $250.00 to $180.00 in a report on Monday, December 9th. Finally, Wolfe Research began coverage on shares of Biogen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Sixteen investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $242.68.

Biogen Stock Up 2.0 %

Shares of Biogen stock opened at $149.38 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12-month low of $145.07 and a 12-month high of $268.30. The firm has a market capitalization of $21.77 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.83 and a beta of -0.08. The stock’s fifty day moving average is $167.48 and its 200-day moving average is $195.31.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.36 earnings per share. Equities analysts anticipate that Biogen Inc. will post 16.43 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.