Biogen Inc. (NASDAQ:BIIB) Shares Sold by Bellevue Group AG

Bellevue Group AG trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 55.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,634 shares of the biotechnology company’s stock after selling 3,268 shares during the quarter. Bellevue Group AG’s holdings in Biogen were worth $511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Itau Unibanco Holding S.A. purchased a new stake in Biogen in the 2nd quarter worth $33,000. Ashton Thomas Securities LLC purchased a new stake in shares of Biogen during the third quarter worth about $33,000. Versant Capital Management Inc increased its stake in shares of Biogen by 123.2% during the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 85 shares in the last quarter. Blue Trust Inc. raised its position in shares of Biogen by 249.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 127 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the subject of a number of research analyst reports. Needham & Company LLC cut Biogen from a “buy” rating to a “hold” rating and set a $270.00 target price for the company. in a report on Monday, November 18th. Truist Financial restated a “buy” rating and issued a $302.00 price objective (down previously from $340.00) on shares of Biogen in a report on Monday, August 5th. UBS Group lowered their target price on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $292.00 target price on shares of Biogen in a research report on Monday, September 9th. Finally, TD Cowen lowered their price target on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Thirteen research 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $257.20.

Insider Buying and Selling at Biogen

In related news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was 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. This trade represents a 7.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is owned by corporate insiders.

Biogen Stock Up 0.5 %

Shares of NASDAQ:BIIB opened at $160.63 on Monday. The company has a market capitalization of $23.41 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.52 and a beta of -0.06. Biogen Inc. has a 12-month low of $153.62 and a 12-month high of $268.30. The business has a 50-day moving average price of $177.86 and a 200 day moving average price of $202.76. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating 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 business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the business earned $4.36 earnings per share. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. Sell-side analysts expect that Biogen Inc. will post 16.44 EPS for the current year.

Biogen Company 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.