Biogen Inc. (NASDAQ:BIIB) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. reduced its position in Biogen Inc. (NASDAQ:BIIB) by 24.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 211 shares of the biotechnology company’s stock after selling 67 shares during the period. First Horizon Advisors Inc.’s holdings in Biogen were worth $55,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. ICICI Prudential Asset Management Co Ltd boosted its holdings in Biogen by 15.0% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 35,989 shares of the biotechnology company’s stock valued at $9,313,000 after purchasing an additional 4,693 shares during the last quarter. Boone Capital Management LLC raised its position in shares of Biogen by 52.9% in the 3rd quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock valued at $24,703,000 after purchasing an additional 33,238 shares in the last quarter. iA Global Asset Management Inc. boosted its stake in shares of Biogen by 35.2% during the 3rd quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company’s stock valued at $3,102,000 after buying an additional 3,145 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Biogen by 13.8% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock valued at $17,577,000 after buying an additional 8,291 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its position in shares of Biogen by 6.2% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company’s stock worth $1,251,000 after buying an additional 285 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $311.00 price objective on shares of Biogen in a research note on Tuesday, February 20th. Mizuho reduced their price target on shares of Biogen from $355.00 to $277.00 and set a “buy” rating on the stock in a research report on Thursday, February 22nd. Bank of America lowered their price objective on Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Friday, April 12th. UBS Group reduced their target price on Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $270.00 price target on shares of Biogen in a report on Monday, April 29th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $290.92.

Biogen Stock Performance

Shares of BIIB stock opened at $218.92 on Wednesday. The business has a 50 day simple moving average of $211.85 and a 200 day simple moving average of $231.09. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32. The firm has a market capitalization of $31.87 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 2.21 and a beta of -0.01. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $319.76.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.45 by $0.22. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. Biogen’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the company earned $3.40 EPS. On average, equities research analysts anticipate that Biogen Inc. will post 15.6 EPS for the current year.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the transaction, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Biogen news, Director Eric K. Rowinsky bought 455 shares of the stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Priya Singhal sold 419 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now directly owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The disclosure for this sale can be found here. Insiders have sold 882 shares of company stock valued at $202,030 over the last three months. Company insiders own 0.60% of the company’s stock.

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.