HBK Sorce Advisory LLC Sells 417 Shares of Biogen Inc. (NASDAQ:BIIB)

HBK Sorce Advisory LLC cut its stake in Biogen Inc. (NASDAQ:BIIB) by 34.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 811 shares of the biotechnology company’s stock after selling 417 shares during the period. HBK Sorce Advisory LLC’s holdings in Biogen were worth $210,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BIIB. Vanguard Group Inc. boosted its holdings in shares of Biogen by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock worth $2,468,356,000 after buying an additional 183,285 shares in the last quarter. State Street Corp boosted its holdings in shares of Biogen by 2.8% during the 1st quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company’s stock worth $1,518,196,000 after buying an additional 197,400 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Biogen by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock worth $1,381,251,000 after buying an additional 27,951 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Biogen by 49.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company’s stock worth $580,627,000 after buying an additional 691,843 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Biogen by 2.8% during the 3rd quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock worth $422,276,000 after buying an additional 45,437 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BIIB shares. Bank of America cut their price target on Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Friday. Truist Financial reaffirmed a “buy” rating and set a $340.00 target price on shares of Biogen in a research report on Monday, March 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $311.00 target price on shares of Biogen in a research report on Tuesday, February 20th. UBS Group lowered their target price on Biogen from $276.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $325.00 target price on shares of Biogen in a research report on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and a consensus price target of $298.96.

Biogen Stock Down 2.7 %

BIIB stock opened at $198.18 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. The company has a market capitalization of $28.81 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.70 and a beta of -0.02. Biogen Inc. has a fifty-two week low of $197.78 and a fifty-two week high of $319.76. The stock has a fifty day moving average of $220.04 and a 200-day moving average of $238.02.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing the consensus estimate of $3.18 by ($0.23). The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same quarter in the previous year, the company posted $4.05 EPS. As a group, equities research analysts predict that Biogen Inc. will post 15.45 earnings per share for the current year.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares in the company, valued at approximately $1,080,929.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Biogen news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares in the company, valued at approximately $1,080,929.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric K. Rowinsky bought 455 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The disclosure for this purchase can be found here. Insiders sold a total of 882 shares of company stock worth $202,030 in the last quarter. 0.60% of the stock is owned by company insiders.

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.