Aljian Capital Management LLC Sells 134 Shares of Biogen Inc. (NASDAQ:BIIB)

Aljian Capital Management LLC cut its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 5.0% during the fourth quarter, Holdings Channel reports. The fund owned 2,560 shares of the biotechnology company’s stock after selling 134 shares during the period. Aljian Capital Management LLC’s holdings in Biogen were worth $391,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in Biogen in the third quarter worth $33,000. Golden State Wealth Management LLC acquired a new stake in shares of Biogen in the fourth quarter valued at $41,000. Venturi Wealth Management LLC raised 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 buying an additional 93 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after buying an additional 90 shares in the last quarter. Finally, Quent Capital LLC grew its holdings in Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after acquiring an additional 72 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of research analyst reports. Canaccord Genuity Group dropped their target price on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research note on Thursday. Wolfe Research started coverage on shares of Biogen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Oppenheimer reduced their target price 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. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research note on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Biogen in a research note on Thursday, October 31st. Seventeen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $220.12.

Biogen Price Performance

Shares of BIIB opened at $133.43 on Thursday. The company has a market cap of $19.44 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.65 and a beta of -0.08. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The company’s fifty day simple moving average is $147.73 and its 200 day simple moving average is $174.05. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.81% and a return on equity of 14.98%. On average, research analysts forecast that Biogen Inc. will post 16.42 earnings per share for the current fiscal year.

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.