Atria Investments Inc Has $279,000 Stock Position in Biogen Inc. (NASDAQ:BIIB)

Atria Investments Inc lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 48.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,823 shares of the biotechnology company’s stock after selling 1,715 shares during the quarter. Atria Investments Inc’s holdings in Biogen were worth $279,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BIIB. Clark Estates Inc. NY increased its holdings in shares of Biogen by 0.9% during the 4th quarter. Clark Estates Inc. NY now owns 16,300 shares of the biotechnology company’s stock worth $2,493,000 after purchasing an additional 150 shares during the period. Charles Schwab Investment Management Inc. grew its position in Biogen by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 971,263 shares of the biotechnology company’s stock worth $148,526,000 after buying an additional 58,234 shares in the last quarter. State of Michigan Retirement System increased its stake in Biogen by 59.9% during the fourth quarter. State of Michigan Retirement System now owns 63,503 shares of the biotechnology company’s stock valued at $9,711,000 after acquiring an additional 23,800 shares during the period. Mission Wealth Management LP raised its holdings in Biogen by 12.3% in the 4th quarter. Mission Wealth Management LP now owns 2,321 shares of the biotechnology company’s stock valued at $355,000 after acquiring an additional 254 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. lifted its position in shares of Biogen by 99.3% in the 4th quarter. Quintet Private Bank Europe S.A. now owns 1,415 shares of the biotechnology company’s stock worth $216,000 after acquiring an additional 705 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BIIB shares. StockNews.com cut Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Morgan Stanley lowered their price target on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Scotiabank lowered their target price on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Wells Fargo & Company cut their price target on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $213.33.

Insider Buying and Selling at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.

Biogen Price Performance

Shares of BIIB stock opened at $143.54 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00. The firm has a market cap of $21.01 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.51 and a beta of 0.01. The stock has a 50-day moving average price of $142.90 and a 200 day moving average price of $163.58.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Research analysts expect that Biogen Inc. will post 15.83 EPS 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.