Orion Portfolio Solutions LLC Sells 954 Shares of Biogen Inc. (NASDAQ:BIIB)

Orion Portfolio Solutions LLC trimmed its stake in Biogen Inc. (NASDAQ:BIIBFree Report) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,515 shares of the biotechnology company’s stock after selling 954 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Biogen were worth $2,197,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Gladius Capital Management LP bought a new position in Biogen in the third quarter valued at approximately $28,000. KB Financial Partners LLC boosted its stake in shares of Biogen by 105.1% during the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 62 shares during the period. Hexagon Capital Partners LLC boosted its stake in shares of Biogen by 76.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 51 shares during the period. CVA Family Office LLC bought a new position in shares of Biogen during the 4th quarter worth approximately $36,000. Finally, Baker Avenue Asset Management LP boosted its stake in shares of Biogen by 215.5% during the 3rd quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock worth $47,000 after acquiring an additional 125 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Biogen Price Performance

Biogen stock opened at $214.41 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $319.76. The stock has a market capitalization of $31.22 billion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 2.21 and a beta of -0.01. The stock has a fifty day moving average of $212.78 and a 200-day moving average of $229.30.

Biogen (NASDAQ:BIIBGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the firm earned $3.40 EPS. Biogen’s revenue was down 7.0% on a year-over-year basis. On average, sell-side analysts expect that Biogen Inc. will post 15.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating and set a $300.00 target price on shares of Biogen in a research note on Thursday, May 23rd. JPMorgan Chase & Co. reduced their target price on Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Piper Sandler reduced their target price on Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Royal Bank of Canada reissued an “outperform” rating and set a $317.00 price target on shares of Biogen in a report on Wednesday. Finally, Robert W. Baird dropped their price target on Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $286.50.

Check Out Our Latest Stock Report on BIIB

Biogen Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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