Biogen Inc. (NASDAQ:BIIB) Shares Sold by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 94.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,874 shares of the biotechnology company's stock after selling 82,501 shares during the quarter. United Capital Financial Advisors LLC's holdings in Biogen were worth $745,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BIIB. Larson Financial Group LLC lifted its position in shares of Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after buying an additional 141 shares in the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Biogen in the fourth quarter valued at $25,000. OFI Invest Asset Management purchased a new position in shares of Biogen during the fourth quarter valued at approximately $32,000. SRS Capital Advisors Inc. bought a new position in Biogen in the 4th quarter valued at $33,000. Finally, Golden State Wealth Management LLC purchased a new position in Biogen in the 4th quarter worth about $41,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares of the company's stock, 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 link. 0.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BIIB. Truist Financial lowered their target price on shares of Biogen from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Sanford C. Bernstein started coverage on Biogen in a research note on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 price objective for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a research report on Friday. Scotiabank lowered their price target 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, Wells Fargo & Company reduced their price objective on Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Eighteen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Biogen presently has an average rating of "Hold" and a consensus price target of $211.37.

Biogen Price Performance

BIIB traded down $1.02 on Friday, hitting $118.49. 462,085 shares of the company were exchanged, compared to its average volume of 1,349,213. The business's fifty day moving average is $132.82 and its 200 day moving average is $149.83. The firm has a market capitalization of $17.34 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current 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.