Biogen Inc. (NASDAQ:BIIB) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. trimmed its position in Biogen Inc. (NASDAQ:BIIB) by 62.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,083 shares of the biotechnology company’s stock after selling 3,430 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Biogen were worth $319,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BIIB. AE Wealth Management LLC acquired a new stake in shares of Biogen in the 2nd quarter valued at $259,000. Pacer Advisors Inc. raised its holdings in shares of Biogen by 12.7% in the 2nd quarter. Pacer Advisors Inc. now owns 19,066 shares of the biotechnology company’s stock valued at $4,420,000 after purchasing an additional 2,149 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Biogen by 16.5% in the 2nd quarter. Sei Investments Co. now owns 105,351 shares of the biotechnology company’s stock valued at $24,422,000 after purchasing an additional 14,900 shares in the last quarter. Ensign Peak Advisors Inc raised its stake in Biogen by 27.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 34,581 shares of the biotechnology company’s stock worth $8,017,000 after acquiring an additional 7,505 shares in the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in Biogen during the 2nd quarter worth $273,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Up 0.3 %

Shares of NASDAQ BIIB opened at $140.98 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 52 week low of $140.05 and a 52 week high of $252.17. The firm has a 50-day moving average price of $153.64 and a 200 day moving average price of $183.67. The stock has a market capitalization of $20.54 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.61 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 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 firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the business earned $4.36 earnings per share. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that Biogen Inc. will post 16.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BIIB shares. Oppenheimer cut their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. HC Wainwright reiterated a “buy” rating and set a $300.00 price target on shares of Biogen in a research note on Thursday, October 31st. JPMorgan Chase & Co. cut their price target on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Stifel Nicolaus lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research note on Monday, December 16th. Finally, Truist Financial cut their price target on shares of Biogen from $302.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen has a consensus rating of “Hold” and an average target price of $230.00.

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.