JNBA Financial Advisors Decreases Stock Position in Biogen Inc. (NASDAQ:BIIB)

JNBA Financial Advisors trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 14.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 866 shares of the biotechnology company’s stock after selling 150 shares during the period. JNBA Financial Advisors’ holdings in Biogen were worth $132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Ashton Thomas Securities LLC purchased a new stake in shares of Biogen during the third quarter valued at $33,000. Venturi Wealth Management LLC boosted its holdings in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 93 shares during the last quarter. Itau Unibanco Holding S.A. grew its stake in shares of Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 90 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Biogen during the fourth quarter valued at approximately $41,000. Finally, Quent Capital LLC lifted its position in Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 72 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

BIIB has been the subject of a number of research analyst reports. Citigroup cut their target price on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday. Oppenheimer reduced their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered their target price on Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Morgan Stanley cut their price target on Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group lowered their price objective on shares of Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Biogen currently has a consensus rating of “Hold” and an average price target of $211.96.

Biogen Price Performance

BIIB stock opened at $137.33 on Friday. The company has a market capitalization of $20.01 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. The company’s fifty day moving average price is $146.90 and its 200-day moving average price is $173.26. 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 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

Biogen (NASDAQ:BIIB) last announced its quarterly 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 16.81% and a return on equity of 14.98%. On average, equities analysts anticipate that Biogen Inc. will post 16.42 EPS for the current fiscal year.

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.