Berkshire Asset Management LLC PA Decreases Holdings in Biogen Inc. (NASDAQ:BIIB)

Berkshire Asset Management LLC PA reduced its position in Biogen Inc. (NASDAQ:BIIB) by 22.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,568 shares of the biotechnology company’s stock after selling 461 shares during the period. Berkshire Asset Management LLC PA’s holdings in Biogen were worth $229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Biogen in the third quarter valued at $33,000. SRS Capital Advisors Inc. acquired a new stake in Biogen in the 4th quarter valued at about $33,000. Golden State Wealth Management LLC purchased a new position in Biogen during the 4th quarter valued at about $41,000. Venturi Wealth Management LLC increased its holdings in Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 93 shares in the last quarter. Finally, Itau Unibanco Holding S.A. raised its position in Biogen by 63.8% during the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 90 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

NASDAQ:BIIB opened at $150.38 on Friday. The firm’s fifty day simple moving average is $143.98 and its 200 day simple moving average is $166.73. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The firm has a market capitalization of $22.01 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.51 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. As a group, equities research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

BIIB has been the topic of several research reports. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a research report on Thursday, February 13th. Piper Sandler restated a “neutral” rating and issued a $135.00 target price (down from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Royal Bank of Canada decreased their price target on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Bank of America reissued a “neutral” rating and issued a $178.00 price objective on shares of Biogen in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group decreased their target price on shares of Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $213.33.

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.