Biogen Inc. (NASDAQ:BIIB) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lessened its holdings in Biogen Inc. (NASDAQ:BIIB) by 16.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,092 shares of the biotechnology company’s stock after selling 1,237 shares during the period. Orion Portfolio Solutions LLC’s holdings in Biogen were worth $1,181,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in Biogen by 1.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,122 shares of the biotechnology company’s stock worth $1,419,000 after acquiring an additional 64 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Biogen by 6.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,513 shares of the biotechnology company’s stock worth $814,000 after acquiring an additional 218 shares in the last quarter. Blue Trust Inc. lifted its stake in Biogen by 249.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 127 shares in the last quarter. Raymond James & Associates lifted its stake in Biogen by 10.4% during the 2nd quarter. Raymond James & Associates now owns 185,681 shares of the biotechnology company’s stock worth $43,045,000 after acquiring an additional 17,557 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Biogen by 3.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 56,528 shares of the biotechnology company’s stock worth $13,104,000 after acquiring an additional 1,820 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Down 3.4 %

Biogen stock opened at $150.03 on Friday. Biogen Inc. has a twelve month low of $149.93 and a twelve month high of $268.30. The stock has a 50 day moving average of $171.21 and a two-hundred day moving average of $198.27. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $21.86 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.83 and a beta of -0.08.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BIIB shares. Morgan Stanley lowered Biogen from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $285.00 to $204.00 in a research note on Thursday, October 31st. Mizuho decreased their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research note on Thursday, November 21st. Bank of America restated a “neutral” rating and set a $178.00 price target on shares of Biogen in a report on Tuesday, December 10th. Oppenheimer cut their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Royal Bank of Canada cut their price target on Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Fourteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $248.25.

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.