Farther Finance Advisors LLC Sells 6,061 Shares of Biogen Inc. (NASDAQ:BIIB)

Farther Finance Advisors LLC decreased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 79.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,595 shares of the biotechnology company’s stock after selling 6,061 shares during the quarter. Farther Finance Advisors LLC’s holdings in Biogen were worth $244,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC increased its stake in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 141 shares during the period. OFI Invest Asset Management bought a new stake in Biogen in the fourth quarter valued at about $32,000. SRS Capital Advisors Inc. bought a new stake in Biogen in the fourth quarter valued at about $33,000. Golden State Wealth Management LLC bought a new stake in Biogen in the fourth quarter valued at about $41,000. Finally, Itau Unibanco Holding S.A. increased its stake in Biogen by 63.8% in the third 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 during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 0.3 %

Shares of NASDAQ BIIB opened at $143.09 on Wednesday. The company’s 50 day simple moving average is $142.70 and its 200 day simple moving average is $163.15. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. The firm has a market capitalization of $20.94 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank of Canada lowered their target price on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Wells Fargo & Company lowered their target price on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Sanford C. Bernstein started coverage on shares of Biogen in a research note on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 target price on the stock. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $135.00 price objective (down from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Biogen has an average rating of “Hold” and an average target price of $213.33.

Insiders Place Their Bets

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

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.