Lifeworks Advisors LLC Reduces Position in Biogen Inc. (NASDAQ:BIIB)

Lifeworks Advisors LLC trimmed its holdings in Biogen Inc. (NASDAQ:BIIB) by 20.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,796 shares of the biotechnology company’s stock after selling 979 shares during the period. Lifeworks Advisors LLC’s holdings in Biogen were worth $581,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp grew its position in Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after acquiring an additional 248,942 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Biogen by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock valued at $698,062,000 after buying an additional 47,055 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after acquiring an additional 2,648,024 shares in the last quarter. RA Capital Management L.P. raised its holdings in shares of Biogen by 20.6% in the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock valued at $229,595,000 after acquiring an additional 202,317 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Biogen by 1.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock worth $223,438,000 after buying an additional 18,905 shares during the period. 87.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BIIB. BMO Capital Markets dropped their price target on Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research note on Thursday, February 13th. HC Wainwright dropped their target price on shares of Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Sanford C. Bernstein began coverage on shares of Biogen in a report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price objective on the stock. Finally, StockNews.com downgraded Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $213.33.

Biogen Stock Performance

Shares of BIIB stock opened at $150.38 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The business’s 50 day moving average is $143.98 and its two-hundred day moving average is $166.46. The company has a market capitalization of $22.01 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.