Auxier Asset Management Sells 2,136 Shares of Biogen Inc. (NASDAQ:BIIB)

Auxier Asset Management reduced its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 13.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,046 shares of the biotechnology company's stock after selling 2,136 shares during the period. Auxier Asset Management's holdings in Biogen were worth $2,148,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Merit Financial Group LLC acquired a new stake in shares of Biogen during the 4th quarter valued at $448,000. HB Wealth Management LLC boosted its stake in shares of Biogen by 15.5% during the fourth quarter. HB Wealth Management LLC now owns 1,589 shares of the biotechnology company's stock valued at $243,000 after purchasing an additional 213 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of Biogen by 59.6% during the fourth quarter. Ballentine Partners LLC now owns 2,440 shares of the biotechnology company's stock worth $373,000 after purchasing an additional 911 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Biogen by 37.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,286 shares of the biotechnology company's stock valued at $350,000 after buying an additional 624 shares during the period. Finally, Flagship Harbor Advisors LLC increased its stake in shares of Biogen by 11.1% in the fourth quarter. Flagship Harbor Advisors LLC now owns 1,553 shares of the biotechnology company's stock valued at $237,000 after buying an additional 155 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Up 3.1%

BIIB stock traded up $3.98 during midday trading on Thursday, reaching $131.51. 759,281 shares of the company's stock traded hands, compared to its average volume of 1,396,307. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The firm's fifty day moving average price is $123.77 and its 200-day moving average price is $139.96. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00. The company has a market cap of $19.27 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 1.51 and a beta of 0.12.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the business earned $3.67 earnings per share. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. HSBC downgraded 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 downgraded shares of Biogen from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Truist Financial reduced their price objective on shares of Biogen from $210.00 to $199.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Scotiabank lowered their target price on Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a research report on Thursday, February 13th. Finally, Oppenheimer set a $205.00 price target on Biogen in a research report on Friday, May 2nd. Twenty research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $191.30.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.16% of the company's stock.

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.