United Bank Sells 2,213 Shares of Biogen Inc. (NASDAQ:BIIB)

United Bank decreased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 60.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,423 shares of the biotechnology company’s stock after selling 2,213 shares during the period. United Bank’s holdings in Biogen were worth $218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Larson Financial Group LLC raised 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. bought a new stake in Biogen during the fourth quarter valued at about $25,000. OFI Invest Asset Management purchased a new stake in Biogen in the fourth quarter worth about $32,000. SRS Capital Advisors Inc. purchased a new position in Biogen in the 4th quarter worth approximately $33,000. Finally, Golden State Wealth Management LLC bought a new position in Biogen in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 11,318 shares in the company, 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 legal filing with the SEC, which is available through this link. Insiders own 0.16% of the company’s stock.

Biogen Stock Down 1.4 %

BIIB opened at $138.37 on Friday. The company has a fifty day moving average of $141.88 and a two-hundred day moving average of $159.97. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen Inc. has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. The stock has a market capitalization of $20.25 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last issued 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 return on equity of 14.98% and a net margin of 16.87%. On average, research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BIIB shares. Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and cut their target price for the company from $250.00 to $180.00 in a research note on Monday, December 9th. Canaccord Genuity Group dropped their target price on Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Stifel Nicolaus downgraded Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a research report on Monday, December 16th. Citigroup cut their price objective on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Truist Financial lowered their target price 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. Seventeen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock 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.