HB Wealth Management LLC Sells 252 Shares of Biogen Inc. (NASDAQ:BIIB)

HB Wealth Management LLC lessened its position in Biogen Inc. (NASDAQ:BIIB) by 15.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,408 shares of the biotechnology company’s stock after selling 252 shares during the period. HB Wealth Management LLC’s holdings in Biogen were worth $364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in shares of Biogen during the fourth quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new position in shares of Biogen during the third quarter valued at approximately $26,000. Gladius Capital Management LP purchased a new stake in Biogen during the third quarter valued at approximately $28,000. KB Financial Partners LLC increased its holdings in Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 62 shares during the last quarter. Finally, Indiana Trust & Investment Management CO purchased a new stake in Biogen during the third quarter valued at approximately $37,000. Institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Biogen news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric K. Rowinsky bought 455 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the transaction, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 789 shares of company stock valued at $182,213. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on BIIB shares. Stifel Nicolaus reduced their target price on shares of Biogen from $315.00 to $287.00 and set a “buy” rating for the company in a report on Thursday, December 14th. HC Wainwright reissued a “buy” rating and issued a $325.00 price objective on shares of Biogen in a research note on Wednesday, February 14th. Wedbush increased their price objective on shares of Biogen from $239.00 to $245.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Needham & Company LLC reduced their price objective on shares of Biogen from $305.00 to $300.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. Finally, UBS Group reduced their price objective on shares of Biogen from $276.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Nine equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Biogen has an average rating of “Moderate Buy” and an average price target of $305.68.

Biogen Trading Up 2.0 %

BIIB stock opened at $216.34 on Thursday. The company has a market capitalization of $31.45 billion, a PE ratio of 27.11, a P/E/G ratio of 1.81 and a beta of -0.03. Biogen Inc. has a 12 month low of $211.01 and a 12 month high of $319.76. The firm’s 50-day moving average is $230.29 and its 200 day moving average is $242.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing the consensus estimate of $3.18 by ($0.23). The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same period in the prior year, the business earned $4.05 EPS. On average, research analysts anticipate that Biogen Inc. will post 15.48 EPS for the current year.

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.