Lifeworks Advisors LLC Reduces Stake in Biogen Inc. (NASDAQ:BIIB)

Lifeworks Advisors LLC decreased its position in Biogen Inc. (NASDAQ:BIIB) by 20.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,796 shares of the biotechnology company’s stock after selling 979 shares during the quarter. Lifeworks Advisors LLC’s holdings in Biogen were worth $581,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of Biogen in the 3rd quarter worth approximately $33,000. SRS Capital Advisors Inc. purchased a new stake in Biogen during the fourth quarter valued at approximately $33,000. Golden State Wealth Management LLC purchased a new stake in Biogen during the fourth quarter valued at approximately $41,000. Venturi Wealth Management LLC raised its position in Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares during the period. Finally, Itau Unibanco Holding S.A. boosted its stake in shares of Biogen by 63.8% during the 3rd 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 last quarter. Institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Piper Sandler restated a “neutral” rating and issued a $135.00 price objective (down from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Wells Fargo & Company decreased their price objective on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Bank of America reaffirmed a “neutral” rating and set a $178.00 price objective on shares of Biogen in a research report on Tuesday, December 10th. Sanford C. Bernstein initiated coverage on Biogen in a research note on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price objective for the company. Finally, Canaccord Genuity Group decreased their target price on shares of Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $213.33.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $150.38 on Friday. The firm has a fifty day simple moving average of $143.98 and a two-hundred day simple moving average of $166.46. Biogen Inc. has a 52 week low of $128.51 and a 52 week high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $22.01 billion, a P/E ratio of 13.44, a PEG ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last released 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 return on equity of 14.98% and a net margin of 16.87%. On average, analysts expect that Biogen Inc. will post 15.83 earnings per share 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.