Biogen Inc. (NASDAQ:BIIB) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 16.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,110,112 shares of the biotechnology company’s stock after selling 210,874 shares during the period. Dimensional Fund Advisors LP’s holdings in Biogen were worth $257,308,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BIIB. Jump Financial LLC acquired a new stake in Biogen in the fourth quarter valued at about $346,000. Dynamic Technology Lab Private Ltd acquired a new stake in Biogen in the fourth quarter valued at about $213,000. Gladstone Institutional Advisory LLC acquired a new stake in Biogen in the fourth quarter valued at about $249,000. Coldstream Capital Management Inc. lifted its position in Biogen by 17.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,282 shares of the biotechnology company’s stock valued at $591,000 after purchasing an additional 333 shares during the period. Finally, Corient Private Wealth LLC increased its holdings in Biogen by 37.1% in the fourth quarter. Corient Private Wealth LLC now owns 31,212 shares of the biotechnology company’s stock valued at $8,077,000 after buying an additional 8,453 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Down 0.3 %

Shares of BIIB opened at $197.59 on Thursday. The firm has a market cap of $28.77 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 2.01 and a beta of -0.06. The company’s fifty day moving average is $208.63 and its two-hundred day moving average is $215.26. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $269.43. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. Biogen’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the business earned $4.02 EPS. Analysts forecast that Biogen Inc. will post 16.12 earnings per share for the current year.

Analyst Ratings Changes

BIIB has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $300.00 target price on shares of Biogen in a report on Thursday, May 23rd. Royal Bank of Canada increased their target price on shares of Biogen from $282.00 to $292.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Piper Sandler dropped their target price on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Wedbush dropped their target price on shares of Biogen from $215.00 to $210.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Wells Fargo & Company dropped their target price on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.52.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by company insiders.

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.