Biogen Inc. (NASDAQ:BIIB) Shares Sold by Orion Investment Co

Orion Investment Co cut its position in shares of Biogen Inc. (NASDAQ:BIIB) by 2.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 31,721 shares of the biotechnology company’s stock after selling 834 shares during the quarter. Biogen makes up approximately 1.9% of Orion Investment Co’s portfolio, making the stock its 17th biggest position. Orion Investment Co’s holdings in Biogen were worth $4,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in BIIB. Larson Financial Group LLC grew its position in Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 141 shares during the period. Lee Danner & Bass Inc. purchased a new position in shares of Biogen during the 4th quarter worth $25,000. OFI Invest Asset Management acquired a new stake in shares of Biogen during the 4th quarter worth about $32,000. SRS Capital Advisors Inc. purchased a new stake in Biogen in the 4th quarter valued at about $33,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Biogen in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Transactions at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BIIB. Scotiabank cut their price objective on Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a report on Thursday, February 13th. HC Wainwright cut their price target on shares of Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Wells Fargo & Company lowered their price objective on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Truist Financial dropped their price objective on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Citigroup decreased their price target on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Biogen has a consensus rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Performance

Shares of BIIB opened at $130.71 on Friday. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The stock has a market capitalization of $19.13 billion, a P/E ratio of 11.68, 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 quick ratio of 0.90 and a current ratio of 1.35. The company’s fifty day moving average is $141.14 and its two-hundred day moving average is $158.43.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating 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, sell-side analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

About Biogen

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.