Level Four Advisory Services LLC Has $1.14 Million Stake in Biogen Inc. (NASDAQ:BIIB)

Level Four Advisory Services LLC reduced its holdings in Biogen Inc. (NASDAQ:BIIB) by 27.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,469 shares of the biotechnology company’s stock after selling 2,828 shares during the period. Level Four Advisory Services LLC’s holdings in Biogen were worth $1,142,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BIIB. Orion Portfolio Solutions LLC grew its stake in shares of Biogen by 12.4% during the fourth quarter. Orion Portfolio Solutions LLC now owns 6,846 shares of the biotechnology company’s stock worth $1,047,000 after purchasing an additional 754 shares during the period. denkapparat Operations GmbH acquired a new position in shares of Biogen during the 4th quarter worth about $248,000. Norges Bank acquired a new position in shares of Biogen during the 4th quarter worth about $355,569,000. Blair William & Co. IL increased its stake in shares of Biogen by 7.4% in the 4th quarter. Blair William & Co. IL now owns 13,049 shares of the biotechnology company’s stock valued at $1,996,000 after acquiring an additional 894 shares during the last quarter. Finally, NEOS Investment Management LLC raised its position in shares of Biogen by 18.4% in the 4th quarter. NEOS Investment Management LLC now owns 17,624 shares of the biotechnology company’s stock valued at $2,695,000 after acquiring an additional 2,740 shares during the period. 87.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BIIB shares. Scotiabank decreased their price objective on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. Royal Bank of Canada decreased their price target on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group dropped their price objective on Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. StockNews.com cut Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Finally, HC Wainwright dropped their price target on Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $213.33.

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of the 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 sale, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Biogen Stock Performance

NASDAQ BIIB opened at $138.37 on Friday. The firm has a market capitalization of $20.25 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average price is $141.88 and its two-hundred day moving average price is $159.97. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current 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.