Massachusetts Wealth Management Cuts Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Massachusetts Wealth Management cut its holdings in Biogen Inc. (NASDAQ:BIIB) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,740 shares of the biotechnology company’s stock after selling 135 shares during the quarter. Massachusetts Wealth Management’s holdings in Biogen were worth $419,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Grandfield & Dodd LLC lifted its position in Biogen by 5.2% during the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 62 shares during the period. Quintet Private Bank Europe S.A. lifted its holdings in shares of Biogen by 9.7% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 63 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after buying an additional 77 shares during the last quarter. Huntington National Bank boosted its stake in shares of Biogen by 3.5% in the 3rd quarter. Huntington National Bank now owns 2,308 shares of the biotechnology company’s stock worth $447,000 after buying an additional 79 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Biogen by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock worth $767,000 after acquiring an additional 79 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Oppenheimer dropped their target price on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Piper Sandler lowered shares of Biogen from an “overweight” rating to a “neutral” rating and cut their target price for the company from $315.00 to $138.00 in a research report on Thursday, January 2nd. Wells Fargo & Company decreased their price target on shares of Biogen from $190.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. Needham & Company LLC cut shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target on the stock. in a research note on Monday, November 18th. Finally, Truist Financial reduced their price objective on Biogen from $302.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $228.80.

Biogen Price Performance

Shares of Biogen stock opened at $142.49 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12 month low of $139.71 and a 12 month high of $246.44. The stock has a 50 day moving average of $150.47 and a 200 day moving average of $177.77. The firm has a market cap of $20.76 billion, a PE ratio of 12.87, a PEG ratio of 1.66 and a beta of -0.08.

About Biogen

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.