Guardian Investment Management Sells 2,865 Shares of Biogen Inc. (NASDAQ:BIIB)

Guardian Investment Management trimmed its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 28.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,300 shares of the biotechnology company’s stock after selling 2,865 shares during the period. Guardian Investment Management’s holdings in Biogen were worth $1,116,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. State Street Corp lifted its position in Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after buying an additional 248,942 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Biogen by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after purchasing an additional 47,055 shares during the last quarter. RA Capital Management L.P. boosted its stake in shares of Biogen by 20.6% during the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock valued at $229,595,000 after purchasing an additional 202,317 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Biogen by 1.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock worth $223,438,000 after purchasing an additional 18,905 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after buying an additional 12,319 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Truist Financial decreased their price target on shares of Biogen from $302.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Piper Sandler cut Biogen from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $315.00 to $138.00 in a report on Thursday, January 2nd. Bank of America restated a “neutral” rating and issued a $178.00 price objective on shares of Biogen in a report on Tuesday, December 10th. Royal Bank of Canada dropped their target price on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Finally, Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $285.00 to $204.00 in a report on Thursday, October 31st. Sixteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $230.00.

Biogen Trading Down 0.5 %

Shares of Biogen stock opened at $140.55 on Monday. The firm has a 50-day simple moving average of $154.27 and a two-hundred day simple moving average of $184.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen Inc. has a fifty-two week low of $140.05 and a fifty-two week high of $252.17. The company has a market cap of $20.48 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 1.69 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.36 earnings per share. As a group, equities analysts predict that Biogen Inc. will post 16.43 earnings per share 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.