Westside Investment Management Inc. Has $206,000 Holdings in Biogen Inc. (NASDAQ:BIIB)

Westside Investment Management Inc. reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 44.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,350 shares of the biotechnology company’s stock after selling 1,064 shares during the period. Westside Investment Management Inc.’s holdings in Biogen were worth $206,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of Biogen by 19,722.9% in the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after acquiring an additional 357,181 shares during the period. Mizuho Securities USA LLC boosted its position in shares of Biogen by 2,715.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after acquiring an additional 304,778 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Biogen in the third quarter valued at about $55,826,000. State Street Corp raised 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 purchasing an additional 248,942 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Biogen by 122.1% in the third quarter. Two Sigma Advisers LP now owns 427,600 shares of the biotechnology company’s stock valued at $82,886,000 after acquiring an additional 235,100 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

BIIB has been the topic of several recent analyst reports. Morgan Stanley downgraded Biogen from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $285.00 to $204.00 in a report on Thursday, October 31st. Bank of America reaffirmed a “neutral” rating and set a $178.00 price objective on shares of Biogen in a research note on Tuesday, December 10th. HC Wainwright restated a “buy” rating and issued a $300.00 price objective on shares of Biogen in a research report on Thursday, October 31st. Needham & Company LLC cut shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target for the company. in a report on Monday, November 18th. Finally, Citigroup began coverage on Biogen in a report on Thursday, November 14th. They set a “neutral” rating and a $190.00 price objective for the company. Sixteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Biogen has a consensus rating of “Hold” and a consensus target price of $230.00.

Biogen Stock Performance

NASDAQ BIIB opened at $142.75 on Thursday. The firm has a 50-day moving average price of $153.09 and a two-hundred day moving average price of $183.08. Biogen Inc. has a 12-month low of $139.71 and a 12-month high of $251.99. The company has a market capitalization of $20.80 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.62 and a beta of -0.07. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

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, topping analysts’ consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.36 earnings per share. Analysts anticipate that Biogen Inc. will post 16.41 earnings per share for the current 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.