Sequoia Financial Advisors LLC Purchases 625 Shares of Biogen Inc. (NASDAQ:BIIB)

Sequoia Financial Advisors LLC boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 30.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,668 shares of the biotechnology company’s stock after acquiring an additional 625 shares during the period. Sequoia Financial Advisors LLC’s holdings in Biogen were worth $690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BIIB. Norges Bank acquired a new position in shares of Biogen in the 4th quarter valued at approximately $362,129,000. Price T Rowe Associates Inc. MD increased its position in shares of Biogen by 49.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company’s stock worth $580,627,000 after acquiring an additional 691,843 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Biogen by 24,726.3% during the fourth quarter. International Assets Investment Management LLC now owns 476,913 shares of the biotechnology company’s stock worth $123,411,000 after acquiring an additional 474,992 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Biogen by 204.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 446,602 shares of the biotechnology company’s stock valued at $114,781,000 after acquiring an additional 300,086 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Biogen by 24.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,189,546 shares of the biotechnology company’s stock worth $305,725,000 after purchasing an additional 233,889 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Price Performance

NASDAQ:BIIB opened at $196.80 on Tuesday. The company has a market cap of $28.61 billion, a P/E ratio of 24.66, a P/E/G ratio of 1.66 and a beta of -0.02. The firm’s fifty day moving average price is $219.14 and its two-hundred day moving average price is $237.31. Biogen Inc. has a one year low of $196.40 and a one year high of $319.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26.

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

Analyst Ratings Changes

Several analysts have issued reports on the company. UBS Group dropped their price target on Biogen from $276.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, February 16th. William Blair restated an “outperform” rating on shares of Biogen in a research note on Monday, April 1st. Oppenheimer decreased their price target on shares of Biogen from $295.00 to $290.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. HC Wainwright reissued a “buy” rating and issued a $325.00 price objective on shares of Biogen in a research report on Wednesday, February 14th. Finally, Wells Fargo & Company downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $315.00 to $240.00 in a research report on Wednesday, February 14th. Ten investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, Biogen currently has a consensus rating of “Moderate Buy” and a consensus target price of $298.96.

Insider Transactions at Biogen

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

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.