Sequoia Financial Advisors LLC Has $463,000 Stock Position in Biogen Inc. (NASDAQ:BIIB)

Sequoia Financial Advisors LLC raised its position in Biogen Inc. (NASDAQ:BIIB) by 31.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,026 shares of the biotechnology company’s stock after acquiring an additional 729 shares during the period. Sequoia Financial Advisors LLC’s holdings in Biogen were worth $463,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Inspire Trust Co. N.A. grew its position in Biogen by 58.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after purchasing an additional 4,025 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Biogen by 0.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after buying an additional 111 shares in the last quarter. Centre Asset Management LLC grew its holdings in shares of Biogen by 7.7% during the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after buying an additional 3,698 shares during the last quarter. Amundi raised its holdings in shares of Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after acquiring an additional 319,478 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in 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 acquiring an additional 12,319 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BIIB shares. Mizuho lowered their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Canaccord Genuity Group lowered their price target on Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Piper Sandler reaffirmed a “neutral” rating and set a $135.00 price objective (down from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and lowered their target price for the company from $250.00 to $180.00 in a report on Monday, December 9th. Finally, Truist Financial cut their price target on shares of Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $213.33.

Insider Buying and Selling

In other 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 transaction of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by insiders.

Biogen Stock Performance

NASDAQ BIIB opened at $143.09 on Wednesday. The firm has a market cap of $20.94 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $142.70 and its 200-day moving average is $163.15. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00.

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%. Sell-side analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

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.