Biogen Inc. (NASDAQ:BIIB) Shares Sold by United Bank

United Bank decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 60.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,423 shares of the biotechnology company’s stock after selling 2,213 shares during the quarter. United Bank’s holdings in Biogen were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its stake in shares of Biogen by 640.9% in 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 during the period. Lee Danner & Bass Inc. purchased a new position in Biogen in the fourth quarter worth approximately $25,000. OFI Invest Asset Management purchased a new stake in Biogen in the fourth quarter valued at $32,000. SRS Capital Advisors Inc. acquired a new position in shares of Biogen in the 4th quarter valued at $33,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Biogen during the 4th quarter worth $41,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling

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 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 owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Biogen Trading Down 1.4 %

NASDAQ:BIIB opened at $138.37 on Friday. Biogen Inc. has a 1 year low of $128.51 and a 1 year 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 fifty day moving average price of $141.88 and a two-hundred day moving average price of $159.97. The stock has a market capitalization of $20.25 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.51 and a beta of 0.01.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BIIB. Bank Of America (Bofa) reduced their price objective on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Sanford C. Bernstein assumed coverage on shares of Biogen in a report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 target price for the company. Citigroup decreased their price target on Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Truist Financial cut their price objective on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $213.33.

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.