Richwood Investment Advisors LLC Trims Stock Position in Biogen Inc. (NASDAQ:BIIB)

Richwood Investment Advisors LLC lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 8.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,131 shares of the biotechnology company’s stock after selling 301 shares during the period. Richwood Investment Advisors LLC’s holdings in Biogen were worth $479,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Lee Danner & Bass Inc. purchased a new position in shares of Biogen during the 4th quarter valued at about $25,000. Larson Financial Group LLC raised its stake in shares of Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 141 shares during the last quarter. SRS Capital Advisors Inc. purchased a new position in shares of Biogen during the 4th quarter valued at about $33,000. OFI Invest Asset Management purchased a new position in shares of Biogen during the 4th quarter valued at about $32,000. Finally, Itau Unibanco Holding S.A. grew its position in shares of Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price on the stock. in a research report on Monday, December 16th. Bank Of America (Bofa) dropped their target price on Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Sanford C. Bernstein assumed coverage on Biogen in a research report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 target price on the stock. HC Wainwright dropped their target price on Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Morgan Stanley dropped their target price on Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Down 0.3 %

BIIB stock opened at $140.90 on Friday. The firm has a market cap of $20.62 billion, a PE ratio of 12.59, a PEG ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The firm’s 50 day moving average price is $142.16 and its 200-day moving average price is $162.11. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, equities research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Insider Activity

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 11,318 shares of the company’s stock, valued at $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.16% of the company’s stock.

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.