Biogen Inc. (NASDAQ:BIIB) Position Trimmed by Farther Finance Advisors LLC

Farther Finance Advisors LLC trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 79.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,595 shares of the biotechnology company’s stock after selling 6,061 shares during the period. Farther Finance Advisors LLC’s holdings in Biogen were worth $244,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BIIB. Larson Financial Group LLC boosted its holdings in Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after buying an additional 141 shares in the last quarter. OFI Invest Asset Management bought a new stake in Biogen during the fourth quarter worth approximately $32,000. SRS Capital Advisors Inc. bought a new stake in Biogen during the fourth quarter worth approximately $33,000. Golden State Wealth Management LLC purchased a new stake in shares of Biogen in the 4th quarter valued at approximately $41,000. Finally, Itau Unibanco Holding S.A. lifted its position in shares of Biogen by 63.8% in 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 in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Biogen Stock Performance

Shares of BIIB opened at $143.09 on Wednesday. The company has a market capitalization of $20.94 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The company’s fifty day moving average price is $142.70 and its 200 day moving average price is $163.15.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping 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%. As a group, analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

BIIB has been the subject of several research analyst reports. Mizuho reduced their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Wells Fargo & Company reduced 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 report on Thursday, February 13th. StockNews.com downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Sanford C. Bernstein initiated coverage on shares of Biogen in a research report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price target for the company. Finally, Canaccord Genuity Group reduced their price target on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research report 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $213.33.

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.