Sompo Asset Management Co. Ltd. Sells 260 Shares of Biogen Inc. (NASDAQ:BIIB)

Sompo Asset Management Co. Ltd. decreased its holdings in Biogen Inc. (NASDAQ:BIIB) by 17.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,200 shares of the biotechnology company’s stock after selling 260 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Biogen were worth $233,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. First Horizon Advisors Inc. boosted its position in Biogen by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 49 shares during the last quarter. Plato Investment Management Ltd boosted its position in Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 53 shares during the last quarter. CWM LLC raised its holdings in shares of Biogen by 1.7% during the second quarter. CWM LLC now owns 3,765 shares of the biotechnology company’s stock valued at $873,000 after purchasing an additional 62 shares during the period. Grandfield & Dodd LLC raised its holdings in shares of Biogen by 5.2% during the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 62 shares during the period. Finally, Quintet Private Bank Europe S.A. raised its holdings in shares of Biogen by 9.7% during the third 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. Institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BIIB shares. UBS Group dropped their price objective on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Needham & Company LLC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 price objective on the stock. in a report on Monday, November 18th. Wolfe Research started coverage on shares of Biogen in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Scotiabank dropped their price objective on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. Finally, Wedbush dropped their price objective on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.20.

Biogen Trading Down 0.1 %

NASDAQ:BIIB opened at $157.90 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $23.01 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 1.49 and a beta of -0.06. The firm’s 50 day moving average is $181.85 and its 200 day moving average is $205.12. Biogen Inc. has a 12 month low of $153.62 and a 12 month high of $268.30.

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

Insider Activity at Biogen

In other news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. The trade was a 7.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by company insiders.

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.