Beacon Investment Advisory Services Inc. Sells 4,001 Shares of Biogen Inc. (NASDAQ:BIIB)

Beacon Investment Advisory Services Inc. decreased its position in Biogen Inc. (NASDAQ:BIIB) by 16.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,609 shares of the biotechnology company’s stock after selling 4,001 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Biogen were worth $2,999,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Biogen in the 3rd quarter worth $33,000. Venturi Wealth Management LLC grew its position in shares of Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares during the last quarter. Itau Unibanco Holding S.A. increased 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 purchasing an additional 90 shares during the period. FSA Wealth Management LLC acquired a new position in shares of Biogen during the 3rd quarter worth about $74,000. Finally, TD Private Client Wealth LLC boosted its stake in Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Trading Up 1.3 %

BIIB stock opened at $142.75 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The stock has a market capitalization of $20.80 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 1.62 and a beta of -0.07. The business has a fifty day moving average price of $152.63 and a 200 day moving average price of $182.79. Biogen Inc. has a fifty-two week low of $139.71 and a fifty-two week high of $251.99.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the business posted $4.36 earnings per share. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. Analysts expect that Biogen Inc. will post 16.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BIIB shares. Truist Financial cut their price target on Biogen from $302.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Robert W. Baird upped their target price on shares of Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $285.00 to $204.00 in a research report on Thursday, October 31st. Raymond James reaffirmed a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their price target on Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Biogen currently has an average rating of “Hold” and a consensus target price of $230.00.

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.