B. Riley Wealth Advisors Inc. Sells 330 Shares of Biogen Inc. (NASDAQ:BIIB)

B. Riley Wealth Advisors Inc. reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 12.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,251 shares of the biotechnology company’s stock after selling 330 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Biogen were worth $425,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BIIB. Itau Unibanco Holding S.A. bought a new stake in Biogen during the second quarter worth about $33,000. Ashton Thomas Securities LLC bought a new stake in Biogen in the 3rd quarter worth approximately $33,000. Blue Trust Inc. boosted its stake in Biogen by 249.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after buying an additional 127 shares in the last quarter. First Horizon Advisors Inc. grew its position in Biogen by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 49 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BIIB. Wolfe Research assumed coverage on shares of Biogen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Oppenheimer cut their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. UBS Group decreased their price objective on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. HC Wainwright restated a “buy” rating and set a $300.00 target price on shares of Biogen in a report on Thursday, October 31st. Finally, Jefferies Financial Group cut Biogen from a “buy” rating to a “hold” rating and decreased their price target for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $245.32.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $147.39 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The company has a 50 day simple moving average of $168.32 and a two-hundred day simple moving average of $196.45. Biogen Inc. has a fifty-two week low of $145.24 and a fifty-two week high of $268.30. The company has a market capitalization of $21.48 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 1.83 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the business earned $4.36 earnings per share. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. Analysts expect that Biogen Inc. will post 16.43 EPS for the current fiscal year.

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.