Biogen Inc. (NASDAQ:BIIB) Shares Sold by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 34.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,207 shares of the biotechnology company’s stock after selling 647 shares during the period. Insigneo Advisory Services LLC’s holdings in Biogen were worth $234,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BIIB. International Assets Investment Management LLC boosted its holdings in Biogen by 19,722.9% in the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after purchasing an additional 357,181 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of Biogen by 2,715.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after buying an additional 304,778 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of Biogen in the third quarter valued at approximately $55,826,000. State Street Corp grew its holdings in Biogen by 3.5% during the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after acquiring an additional 248,942 shares during the period. Finally, Two Sigma Advisers LP raised its position in Biogen by 122.1% in the third quarter. Two Sigma Advisers LP now owns 427,600 shares of the biotechnology company’s stock worth $82,886,000 after acquiring an additional 235,100 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

BIIB has been the topic of several research analyst reports. Royal Bank of Canada decreased their target price on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Oppenheimer decreased their price objective on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Barclays lowered their target price on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Wedbush reduced their price target on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. Finally, UBS Group lowered their price target on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Fourteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $253.08.

Biogen Trading Down 0.8 %

NASDAQ BIIB opened at $156.46 on Tuesday. The company has a market cap of $22.80 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.49 and a beta of -0.08. Biogen Inc. has a 12 month low of $153.62 and a 12 month 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 company has a 50-day moving average of $173.83 and a 200-day moving average of $199.92.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. Biogen’s revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.36 earnings per share. As a group, equities analysts predict that Biogen Inc. will post 16.44 earnings per share 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.