Coldstream Capital Management Inc. Trims Stock Position in Biogen Inc. (NASDAQ:BIIB)

Coldstream Capital Management Inc. decreased its stake in Biogen Inc. (NASDAQ:BIIB) by 11.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,397 shares of the biotechnology company’s stock after selling 300 shares during the period. Coldstream Capital Management Inc.’s holdings in Biogen were worth $459,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Itau Unibanco Holding S.A. acquired a new stake in Biogen during the 2nd quarter worth $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Biogen during the third quarter worth about $33,000. Blue Trust Inc. grew its holdings in shares of Biogen by 249.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after buying an additional 127 shares during the last quarter. First Horizon Advisors Inc. increased its position in Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 49 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 93 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $150.03 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The stock has a market cap of $21.86 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.83 and a beta of -0.08. Biogen Inc. has a one year low of $149.93 and a one year high of $268.30. The business’s fifty day moving average price is $171.21 and its two-hundred day moving average price is $198.27.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the firm posted $4.36 earnings per share. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, analysts forecast that Biogen Inc. will post 16.43 EPS for the current fiscal year.

Analyst Ratings Changes

BIIB has been the topic of a number of recent research reports. Mizuho dropped their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. StockNews.com cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Barclays reduced their target price on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Bank of America reiterated a “neutral” rating and set a $178.00 price target on shares of Biogen in a research note on Tuesday, December 10th. Finally, Morgan Stanley downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $285.00 to $204.00 in a research report on Thursday, October 31st. Fourteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $248.25.

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.