Independent Advisor Alliance Has $378,000 Stock Position in Biogen Inc. (NASDAQ:BIIB)

Independent Advisor Alliance lowered its position in shares of Biogen Inc. (NASDAQ:BIIB) by 70.2% in the fourth quarter, HoldingsChannel reports. The fund owned 2,469 shares of the biotechnology company’s stock after selling 5,820 shares during the period. Independent Advisor Alliance’s holdings in Biogen were worth $378,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BIIB. Larson Financial Group LLC raised its stake in shares of Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 141 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of Biogen during the 4th quarter worth approximately $32,000. SRS Capital Advisors Inc. bought a new stake in shares of Biogen during the 4th quarter worth approximately $33,000. Golden State Wealth Management LLC bought a new stake in shares of Biogen during the 4th quarter worth approximately $41,000. Finally, Itau Unibanco Holding S.A. raised its stake in shares of Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada dropped their price objective on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Truist Financial dropped their price objective on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Scotiabank dropped their price target on Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 13th. The Goldman Sachs Group dropped their price target on Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, StockNews.com cut Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $213.33.

Biogen Stock Performance

BIIB opened at $143.54 on Tuesday. The firm has a market cap of $21.01 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. Biogen Inc. has a 52-week low of $128.51 and a 52-week high of $238.00. 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 business’s fifty day moving average is $142.90 and its 200-day moving average is $163.58.

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

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was 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 of the company’s stock, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by insiders.

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.