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

Auxier Asset Management decreased its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 13.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 large investors have also recently modified their holdings of the business. GF Fund Management CO. LTD. purchased a new position in Biogen during the fourth quarter valued at approximately $5,236,000. Vise Technologies Inc. purchased a new position in Biogen during the fourth quarter valued at approximately $250,000. Inspire Trust Co. N.A. grew its stake in Biogen by 12.8% during the fourth quarter. Inspire Trust Co. N.A. now owns 12,300 shares of the biotechnology company's stock valued at $1,881,000 after acquiring an additional 1,400 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Biogen by 33.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,533,813 shares of the biotechnology company's stock valued at $234,551,000 after acquiring an additional 381,122 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in Biogen during the fourth quarter valued at approximately $23,195,000. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Trading Down 0.7%

NASDAQ:BIIB traded down $0.86 during midday trading on Wednesday, reaching $127.53. 1,558,350 shares of the stock traded hands, compared to its average volume of 1,395,678. The company has a fifty day moving average of $124.04 and a 200 day moving average of $140.05. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock has a market capitalization of $18.69 billion, a P/E ratio of 11.40, a PEG ratio of 1.51 and a beta of 0.12.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 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 firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the company earned $3.67 earnings per share. The company's quarterly revenue was up 6.2% compared to the same quarter last year. On average, research analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Insiders Place Their Bets

In other Biogen 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 transaction, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This represents a 43.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on BIIB shares. Scotiabank reduced their price objective on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a research note on Thursday, February 13th. Bank Of America (Bofa) dropped their target price on shares of Biogen from $178.00 to $163.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. BMO Capital Markets dropped their target price on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada dropped their target price on shares of Biogen from $217.00 to $205.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Morgan Stanley dropped their target price on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Twenty analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $191.30.

Biogen Company 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.