Coldstream Capital Management Inc. Sells 300 Shares of Biogen Inc. (NASDAQ:BIIB)

Coldstream Capital Management Inc. decreased its position in Biogen Inc. (NASDAQ:BIIB) by 11.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,397 shares of the biotechnology company’s stock after selling 300 shares during the period. Coldstream Capital Management Inc.’s holdings in Biogen were worth $459,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its position in shares of Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after buying an additional 49 shares during the last quarter. Grandfield & Dodd LLC boosted its holdings in Biogen by 5.2% in the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after acquiring an additional 62 shares in the last quarter. Quintet Private Bank Europe S.A. increased its position in 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 purchasing an additional 63 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Biogen by 1.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,122 shares of the biotechnology company’s stock worth $1,419,000 after purchasing an additional 64 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its position in shares of Biogen by 5.5% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 1,524 shares of the biotechnology company’s stock worth $353,000 after purchasing an additional 79 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Performance

NASDAQ:BIIB opened at $150.03 on Friday. The company’s 50-day moving average is $171.21 and its two-hundred day moving average is $198.27. Biogen Inc. has a 1-year low of $149.93 and a 1-year high of $268.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The firm has a market capitalization of $21.86 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.83 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the company earned $4.36 EPS. The company’s quarterly revenue was down 2.5% on a year-over-year basis. Analysts forecast that Biogen Inc. will post 16.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BIIB shares. Barclays reduced their target price on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. lowered their target price on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Raymond James restated a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Royal Bank of Canada lowered their price objective on Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, Oppenheimer dropped their target price on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Fourteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $248.25.

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.