Beacon Investment Advisory Services Inc. Sells 4,001 Shares of Biogen Inc. (NASDAQ:BIIB)

Beacon Investment Advisory Services Inc. reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 16.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 19,609 shares of the biotechnology company’s stock after selling 4,001 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Biogen were worth $2,999,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in BIIB. Ashton Thomas Securities LLC acquired a new stake in shares of Biogen during the 3rd quarter worth approximately $33,000. Venturi Wealth Management LLC boosted its stake in Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 93 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 90 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in Biogen during the 3rd quarter worth $74,000. Finally, TD Private Client Wealth LLC raised its position in shares of Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after acquiring an additional 77 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BIIB has been the topic of several recent research reports. HC Wainwright restated a “buy” rating and issued a $300.00 price target on shares of Biogen in a research report on Thursday, October 31st. Royal Bank of Canada reduced their target price on Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. JPMorgan Chase & Co. lowered their price target on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $285.00 to $204.00 in a research note on Thursday, October 31st. Finally, Piper Sandler cut shares of Biogen from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $315.00 to $138.00 in a report on Thursday, January 2nd. Sixteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Hold” and an average price target of $230.00.

Biogen Stock Up 1.3 %

Biogen stock opened at $142.75 on Thursday. The company has a fifty day simple moving average of $152.63 and a 200 day simple moving average of $182.79. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 1-year low of $139.71 and a 1-year high of $251.99. The company has a market cap of $20.80 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 1.62 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the company earned $4.36 EPS. Biogen’s revenue for the quarter was down 2.5% compared to the same quarter last year. Research analysts anticipate that Biogen Inc. will post 16.41 earnings per share for the current fiscal 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.