Biogen Inc. (NASDAQ:BIIB) Shares Sold by Guardian Investment Management

Guardian Investment Management lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 28.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,300 shares of the biotechnology company’s stock after selling 2,865 shares during the quarter. Guardian Investment Management’s holdings in Biogen were worth $1,116,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Itau Unibanco Holding S.A. acquired a new position in Biogen during the second quarter worth about $33,000. Ashton Thomas Securities LLC purchased a new stake in shares of Biogen in the third quarter valued at approximately $33,000. Venturi Wealth Management LLC increased its holdings in shares of Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares during the last quarter. Versant Capital Management Inc boosted its stake in Biogen by 228.7% during the fourth quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock worth $61,000 after buying an additional 279 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in Biogen in the 3rd quarter valued at $74,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

BIIB stock opened at $140.55 on Monday. The stock has a market cap of $20.48 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.69 and a beta of -0.07. Biogen Inc. has a fifty-two week low of $140.05 and a fifty-two week high of $252.17. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $154.27 and a 200 day moving average price of $184.26.

Biogen (NASDAQ:BIIB) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the business posted $4.36 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities research analysts anticipate that Biogen Inc. will post 16.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. UBS Group dropped their price target on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Truist Financial reduced their price target on shares of Biogen from $302.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler cut Biogen from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $315.00 to $138.00 in a research note on Thursday, January 2nd. Finally, BMO Capital Markets lowered Biogen from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $230.00 to $164.00 in a research note on Friday, December 20th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.