Biogen Inc. (NASDAQ:BIIB) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 10.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,112 shares of the biotechnology company’s stock after selling 136 shares during the quarter. FineMark National Bank & Trust’s holdings in Biogen were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BIIB. Gladius Capital Management LP acquired a new stake in Biogen in the third quarter worth $28,000. KB Financial Partners LLC increased its position in Biogen by 105.1% in the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after buying an additional 62 shares during the period. Hexagon Capital Partners LLC increased its position in Biogen by 76.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after buying an additional 51 shares during the period. CVA Family Office LLC acquired a new stake in Biogen in the fourth quarter worth $36,000. Finally, Baker Avenue Asset Management LP increased its position in Biogen by 215.5% in the third quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock worth $47,000 after buying an additional 125 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Trading Down 0.1 %

Shares of BIIB stock opened at $217.81 on Friday. The stock has a market capitalization of $31.71 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.74 and a beta of -0.01. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $319.76. The stock has a 50-day simple moving average of $212.88 and a 200 day simple moving average of $229.51.

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

Analysts Set New Price Targets

Several brokerages have weighed in on BIIB. Bank of America dropped their target price on Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Piper Sandler dropped their target price on Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. UBS Group dropped their target price on Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, April 1st. Finally, BMO Capital Markets decreased their price target on Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $288.46.

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.