Corient Private Wealth LLC Sells 338 Shares of Biogen Inc. (NASDAQ:BIIB)

Corient Private Wealth LLC cut its position in Biogen Inc. (NASDAQ:BIIB) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,384 shares of the biotechnology company’s stock after selling 338 shares during the quarter. Corient Private Wealth LLC’s holdings in Biogen were worth $4,492,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BIIB. Pacer Advisors Inc. raised its holdings in Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after purchasing an additional 2,648,024 shares in the last quarter. Van ECK Associates Corp raised its holdings in Biogen by 977.9% in the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock worth $163,083,000 after purchasing an additional 967,523 shares in the last quarter. Amundi raised its holdings in Biogen by 35.6% in the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after purchasing an additional 319,478 shares in the last quarter. Erste Asset Management GmbH bought a new position in Biogen in the third quarter worth about $55,826,000. Finally, State Street Corp raised its holdings in Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after purchasing an additional 248,942 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Down 0.3 %

Biogen stock opened at $140.90 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The firm has a market cap of $20.62 billion, a PE ratio of 12.59, a P/E/G ratio of 1.51 and a beta of 0.01. The stock’s 50 day simple moving average is $142.16 and its two-hundred day simple moving average is $162.40. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BIIB shares. Bank of America reiterated a “neutral” rating and issued a $178.00 target price on shares of Biogen in a report on Tuesday, December 10th. Citigroup dropped their price target on Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Canaccord Genuity Group dropped their price target on Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research note on Monday, December 16th. Finally, Truist Financial dropped their price target on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $213.33.

Insider Transactions at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.16% of the company’s stock.

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.