Waddell & Associates LLC Sells 49 Shares of Biogen Inc. (NASDAQ:BIIB)

Waddell & Associates LLC decreased its holdings in Biogen Inc. (NASDAQ:BIIB) by 5.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 838 shares of the biotechnology company’s stock after selling 49 shares during the period. Waddell & Associates LLC’s holdings in Biogen were worth $217,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Gladius Capital Management LP bought a new position in Biogen in the third quarter valued at about $28,000. KB Financial Partners LLC increased its position in Biogen by 105.1% during the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 62 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in Biogen by 76.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 51 shares during the last quarter. CVA Family Office LLC acquired a new stake in Biogen in the fourth quarter valued at approximately $36,000. Finally, Baker Avenue Asset Management LP grew its stake in shares of Biogen by 215.5% during the third quarter. Baker Avenue Asset Management LP now owns 183 shares of the biotechnology company’s stock worth $47,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Down 2.8 %

NASDAQ:BIIB traded down $6.56 on Friday, hitting $225.43. The stock had a trading volume of 958,650 shares, compared to its average volume of 990,787. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $319.76. The firm’s fifty day simple moving average is $214.54 and its two-hundred day simple moving average is $229.36. The stock has a market cap of $32.82 billion, a P/E ratio of 28.14, a price-to-earnings-growth ratio of 2.27 and a beta of -0.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the business posted $3.40 earnings per share. Biogen’s revenue was down 7.0% on a year-over-year basis. Analysts predict that Biogen Inc. will post 15.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $300.00 price objective on shares of Biogen in a report on Thursday, May 23rd. Canaccord Genuity Group lowered their price objective on Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Bank Of America (Bofa) dropped their price objective on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Monday, February 12th. Needham & Company LLC reissued a “buy” rating and set a $294.00 target price on shares of Biogen in a research note on Wednesday, May 22nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $340.00 price target on shares of Biogen in a research note on Thursday, May 16th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Biogen currently has a consensus rating of “Moderate Buy” and a consensus price target of $286.50.

Biogen Company 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.