Klingenstein Fields & Co. LP Sells 225 Shares of Biogen Inc. (NASDAQ:BIIB)

Klingenstein Fields & Co. LP reduced its position in Biogen Inc. (NASDAQ:BIIB) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,731 shares of the biotechnology company’s stock after selling 225 shares during the period. Klingenstein Fields & Co. LP’s holdings in Biogen were worth $418,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of Biogen in the 3rd quarter worth $33,000. Golden State Wealth Management LLC bought a new position in Biogen during the 4th quarter valued at $41,000. Venturi Wealth Management LLC lifted 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 in the last quarter. Itau Unibanco Holding S.A. lifted its stake in Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 90 shares in the last quarter. Finally, Quent Capital LLC lifted its stake in Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock valued at $46,000 after acquiring an additional 72 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Price Performance

Shares of BIIB stock opened at $138.45 on Friday. The stock has a market cap of $20.17 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.65 and a beta of -0.08. The business’s fifty day moving average is $147.73 and its 200 day moving average is $174.05. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. 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 (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Research analysts expect that Biogen Inc. will post 16.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BIIB has been the topic of several recent analyst reports. Truist Financial dropped their price objective on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday. The Goldman Sachs Group dropped their price objective on Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday. Robert W. Baird raised their price objective on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Barclays lowered their target price on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Finally, Bank of America reiterated a “neutral” rating and set a $178.00 target price on shares of Biogen in a research note on Tuesday, December 10th. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $211.96.

Biogen Profile

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.