Biogen Inc. (NASDAQ:BIIB) Holdings Decreased by Verdence Capital Advisors LLC

Posted by on Apr 2nd, 2023

Verdence Capital Advisors LLC trimmed its position in Biogen Inc. (NASDAQ:BIIB – Get Rating) by 34.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,646 shares of the biotechnology company’s stock after selling 851 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Biogen were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in BIIB. FNY Investment Advisers LLC increased its holdings in shares of Biogen by 526.7% in the 3rd quarter. FNY Investment Advisers LLC now owns 94 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. Larson Financial Group LLC bought a new position in Biogen during the 3rd quarter worth $25,000. CVA Family Office LLC grew its stake in Biogen by 50.0% during the 3rd quarter. CVA Family Office LLC now owns 105 shares of the biotechnology company’s stock worth $28,000 after buying an additional 35 shares during the last quarter. MinichMacGregor Wealth Management LLC bought a new position in Biogen during the 4th quarter worth $28,000. Finally, Trustcore Financial Services LLC grew its stake in Biogen by 564.7% during the 3rd quarter. Trustcore Financial Services LLC now owns 113 shares of the biotechnology company’s stock worth $30,000 after buying an additional 96 shares during the last quarter. 84.40% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Priya Singhal sold 568 shares of the company’s stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $270.06, for a total transaction of $153,394.08. Following the completion of the sale, the insider now directly owns 2,842 shares of the company’s stock, valued at $767,510.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.65% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley upped their price objective on Biogen from $345.00 to $351.00 and gave the stock an “overweight” rating in a research note on Thursday, February 16th. StockNews.com assumed coverage on Biogen in a research note on Thursday, March 16th. They set a “strong-buy” rating for the company. HC Wainwright restated a “buy” rating and set a $325.00 price objective on shares of Biogen in a research note on Thursday, March 23rd. Needham & Company LLC restated a “buy” rating and set a $325.00 price objective on shares of Biogen in a research note on Wednesday, February 15th. Finally, Oppenheimer lowered their price objective on Biogen from $320.00 to $310.00 and set an “outperform” rating for the company in a research note on Thursday, February 16th. Six investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $319.00.

Biogen Trading Up 1.1 %

Shares of Biogen stock opened at $278.03 on Friday. The company has a quick ratio of 2.58, a current ratio of 2.99 and a debt-to-equity ratio of 0.47. The firm has a market cap of $40.17 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 2.32 and a beta of 0.19. The business has a fifty day simple moving average of $275.66 and a 200-day simple moving average of $274.17. Biogen Inc. has a fifty-two week low of $187.16 and a fifty-two week high of $311.88.

Biogen (NASDAQ:BIIB – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The biotechnology company reported $4.05 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.57. The business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.44 billion. Biogen had a return on equity of 20.96% and a net margin of 29.95%. The company’s revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.39 earnings per share. On average, equities analysts forecast that Biogen Inc. will post 15.53 EPS for the current fiscal year.

About Biogen

(Get Rating)

Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. Its products include TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for the treatment of MS, SPINRAZA for the treatment of SMA, ADUHELM for the treatment of Alzheimer’s disease, and FUMADERM for the treatment of severe plaque psoriasis.

Read More

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB – Get Rating).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.