Biogen Inc. (NASDAQ:BIIB) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC cut its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 29.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,127 shares of the biotechnology company’s stock after selling 468 shares during the quarter. Farther Finance Advisors LLC’s holdings in Biogen were worth $149,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Park Avenue Securities LLC boosted its position in Biogen by 32.9% during the first quarter. Park Avenue Securities LLC now owns 3,066 shares of the biotechnology company’s stock worth $420,000 after purchasing an additional 759 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Biogen by 88.0% during the 1st quarter. UMB Bank n.a. now owns 472 shares of the biotechnology company’s stock valued at $65,000 after buying an additional 221 shares in the last quarter. Curat Global LLC acquired a new stake in Biogen in the 1st quarter valued at $69,000. Riverview Trust Co acquired a new stake in Biogen in the 1st quarter valued at $39,000. Finally, Merit Financial Group LLC increased its holdings in Biogen by 207.0% in the 1st quarter. Merit Financial Group LLC now owns 8,997 shares of the biotechnology company’s stock worth $1,231,000 after acquiring an additional 6,066 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BIIB shares. HSBC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $118.00 target price on the stock. in a research report on Monday, April 28th. Hsbc Global Res cut Biogen from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Piper Sandler reaffirmed a “neutral” rating and issued a $115.00 price target on shares of Biogen in a research note on Thursday, June 12th. HC Wainwright reduced their price objective on Biogen from $241.00 to $187.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada lowered their target price on shares of Biogen from $217.00 to $205.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Twenty investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $188.19.

Biogen Stock Performance

Shares of BIIB stock opened at $127.04 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.44. The firm has a market cap of $18.62 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.00 and a beta of 0.14. The firm’s 50 day moving average price is $124.83 and its 200-day moving average price is $136.42. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a net margin of 15.07% and a return on equity of 14.03%. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the previous year, the business posted $3.67 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts predict that Biogen Inc. will post 15.83 EPS for the current 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.