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

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

Several other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in Biogen in the 3rd quarter worth approximately $33,000. Venturi Wealth Management LLC grew its position in Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in 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 acquiring an additional 90 shares during the last quarter. Versant Capital Management Inc raised its position in Biogen by 228.7% during the fourth quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 279 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in Biogen in the third quarter worth approximately $74,000. Institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BIIB. Wolfe Research started coverage on shares of Biogen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Wells Fargo & Company lowered their price target on shares of Biogen from $190.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Oppenheimer reduced their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Piper Sandler lowered Biogen from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $315.00 to $138.00 in a research note on Thursday, January 2nd. Finally, HC Wainwright restated a “buy” rating and set a $300.00 target price on shares of Biogen in a report on Thursday, October 31st. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Biogen presently has a consensus rating of “Hold” and a consensus price target of $228.80.

Biogen Trading Up 0.1 %

NASDAQ:BIIB opened at $142.49 on Wednesday. The firm has a market capitalization of $20.76 billion, a P/E ratio of 12.87, a PEG ratio of 1.66 and a beta of -0.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen Inc. has a one year low of $139.71 and a one year high of $246.44. The company’s 50-day simple moving average is $150.47 and its 200 day simple moving average is $177.77.

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.