Wealthspire Advisors LLC Cuts Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Wealthspire Advisors LLC lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,712 shares of the biotechnology company’s stock after selling 184 shares during the quarter. Wealthspire Advisors LLC’s holdings in Biogen were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Denver PWM LLC increased its position in shares of Biogen by 43.5% during the fourth quarter. Denver PWM LLC now owns 538 shares of the biotechnology company’s stock worth $82,000 after acquiring an additional 163 shares during the period. Callan Capital LLC grew its stake in shares of Biogen by 87.8% during the fourth quarter. Callan Capital LLC now owns 2,075 shares of the biotechnology company’s stock worth $317,000 after purchasing an additional 970 shares in the last quarter. Deseret Mutual Benefit Administrators grew its stake in shares of Biogen by 5.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,612 shares of the biotechnology company’s stock worth $247,000 after purchasing an additional 87 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Biogen by 2.0% during the fourth quarter. Allianz Asset Management GmbH now owns 535,954 shares of the biotechnology company’s stock worth $81,958,000 after purchasing an additional 10,441 shares in the last quarter. Finally, ING Groep NV grew its stake in shares of Biogen by 12.8% during the fourth quarter. ING Groep NV now owns 22,171 shares of the biotechnology company’s stock worth $3,390,000 after purchasing an additional 2,521 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 0.4 %

NASDAQ BIIB opened at $139.88 on Friday. The stock has a market capitalization of $20.47 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.51 and a beta of -0.08. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00. The firm has a 50-day moving average price of $144.55 and a 200 day moving average price of $169.15. 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 (NASDAQ:BIIB) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Oppenheimer lowered their target price on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Robert W. Baird boosted their target price on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Bank of America reiterated a “neutral” rating and set a $178.00 target price on shares of Biogen in a research note on Tuesday, December 10th. Stifel Nicolaus downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a research note on Monday, December 16th. Finally, Royal Bank of Canada decreased their price objective on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $213.33.

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.