Auxier Asset Management Cuts Position in Biogen Inc. (NASDAQ:BIIB)

Auxier Asset Management decreased its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 13.2% during the 4th quarter, according to the company in its most recent 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 quarter. Auxier Asset Management's holdings in Biogen were worth $2,148,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC lifted its stake in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in Biogen during the fourth quarter valued at about $25,000. Colonial Trust Co SC raised its position in Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 186 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Biogen during the fourth quarter valued at about $32,000. Finally, SRS Capital Advisors Inc. bought a new position in shares of Biogen during the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BIIB shares. Scotiabank reduced their price objective on Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a research note on Thursday, February 13th. Robert W. Baird reduced their price objective on Biogen from $300.00 to $255.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Truist Financial cut their target price on Biogen from $210.00 to $199.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Piper Sandler cut their target price on Biogen from $135.00 to $115.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Finally, Citigroup cut their target price on Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Twenty analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $191.30.

Insider Activity at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Biogen Stock Performance

Shares of NASDAQ:BIIB traded up $2.58 during midday trading on Tuesday, hitting $128.39. The company had a trading volume of 1,584,233 shares, compared to its average volume of 1,395,025. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The company has a market cap of $18.81 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.51 and a beta of 0.12. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $238.00. The company has a fifty day moving average of $124.30 and a two-hundred day moving average of $140.13.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the company earned $3.67 EPS. The firm's revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities research analysts expect that Biogen Inc. will post 15.83 EPS 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.