Sovereign Investment Advisors LLC Takes $232,000 Position in Biogen Inc. (NASDAQ:BIIB)

Sovereign Investment Advisors LLC bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,520 shares of the biotechnology company’s stock, valued at approximately $232,000.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC boosted its holdings in shares of Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 141 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of Biogen during the 4th quarter valued at $32,000. SRS Capital Advisors Inc. bought a new stake in shares of Biogen during the 4th quarter valued at $33,000. Golden State Wealth Management LLC bought a new stake in shares of Biogen during the 4th quarter valued at $41,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of 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 buying an additional 93 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on BIIB shares. Needham & Company LLC restated a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Royal Bank of Canada dropped 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. Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and dropped their price target for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. Citigroup dropped their price target on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, Wells Fargo & Company dropped their price target on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Biogen has a consensus rating of “Hold” and a consensus price target of $213.33.

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Biogen Stock Down 0.4 %

NASDAQ BIIB opened at $139.44 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The company has a market capitalization of $20.41 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.51 and a beta of 0.01. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The stock has a 50 day moving average price of $143.09 and a 200-day moving average price of $164.30.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating 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 analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Biogen 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.