Xponance Inc. Has $3.17 Million Stake in Biogen Inc. (NASDAQ:BIIB)

Xponance Inc. decreased its position in Biogen Inc. (NASDAQ:BIIB) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,735 shares of the biotechnology company’s stock after selling 290 shares during the quarter. Xponance Inc.’s holdings in Biogen were worth $3,171,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC grew its position in shares of Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. SRS Capital Advisors Inc. bought a new stake in shares of Biogen in the fourth quarter valued at approximately $33,000. OFI Invest Asset Management bought a new stake in shares of Biogen in the fourth quarter valued at approximately $32,000. Itau Unibanco Holding S.A. boosted its stake in shares of Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 90 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in shares of Biogen in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insiders Place Their Bets

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Sanford C. Bernstein assumed coverage on Biogen in a research note on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price target for the company. The Goldman Sachs Group cut their price target on Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. BMO Capital Markets cut their target price on Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. Canaccord Genuity Group cut their target price on Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a research note on Monday, December 16th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Biogen currently has a consensus rating of “Hold” and a consensus target price of $213.33.

Biogen Stock Performance

NASDAQ BIIB opened at $141.38 on Friday. The company has a market capitalization of $20.69 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.51 and a beta of 0.01. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00. The stock has a fifty day simple moving average of $142.32 and a 200 day simple moving average of $162.85. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share 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%. Sell-side analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

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.