Biogen Inc. (NASDAQ:BIIB) Shares Sold by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC decreased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 61.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,571 shares of the biotechnology company’s stock after selling 2,485 shares during the period. Integrated Wealth Concepts LLC’s holdings in Biogen were worth $305,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BIIB. International Assets Investment Management LLC lifted its holdings in shares of Biogen by 19,722.9% during the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after acquiring an additional 357,181 shares during the period. Mizuho Securities USA LLC raised its stake in shares of Biogen by 2,715.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after acquiring an additional 304,778 shares during the period. Erste Asset Management GmbH acquired a new position in Biogen in the 3rd quarter worth $55,826,000. Massachusetts Financial Services Co. MA boosted its holdings in Biogen by 29.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 711,184 shares of the biotechnology company’s stock valued at $137,856,000 after purchasing an additional 162,511 shares during the last quarter. Finally, Primecap Management Co. CA increased its stake in shares of Biogen by 0.7% in the second quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock worth $3,787,543,000 after buying an additional 117,578 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BIIB shares. Oppenheimer dropped their price objective 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. Robert W. Baird boosted their price target on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Royal Bank of Canada decreased their price target on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Wolfe Research assumed coverage on Biogen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, Needham & Company LLC downgraded Biogen from a “buy” rating to a “hold” rating and set a $270.00 target price on the stock. in a research note on Monday, November 18th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $249.80.

Biogen Price Performance

Shares of Biogen stock opened at $155.33 on Friday. Biogen Inc. has a 12 month low of $153.62 and a 12 month high of $268.30. 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 stock has a 50 day moving average of $172.51 and a 200 day moving average of $199.19. The firm has a market cap of $22.63 billion, a PE ratio of 14.20, a PEG ratio of 1.49 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the business posted $4.36 EPS. On average, research analysts expect that Biogen Inc. will post 16.44 EPS 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.