Valeo Financial Advisors LLC Sells 423 Shares of Biogen Inc. (NASDAQ:BIIB)

Valeo Financial Advisors LLC reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 21.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,563 shares of the biotechnology company’s stock after selling 423 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Biogen were worth $303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BIIB. Plato Investment Management Ltd boosted its position in shares of Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after buying an additional 53 shares during the period. Rise Advisors LLC acquired a new position in Biogen during the 1st quarter worth approximately $27,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Biogen in the second quarter valued at approximately $33,000. Versant Capital Management Inc lifted its position in shares of Biogen by 123.2% in 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. Finally, EntryPoint Capital LLC acquired a new position in Biogen during the first quarter worth $36,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. UBS Group cut their price target on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Barclays reduced their price target on Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada decreased their price target on Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Wedbush dropped their price objective on Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. Finally, Wells Fargo & Company decreased their target price on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $273.78.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at $1,085,633.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.

Biogen Trading Up 1.7 %

Shares of Biogen stock opened at $191.56 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. The firm has a 50-day moving average of $198.00 and a 200-day moving average of $211.53. Biogen Inc. has a 52-week low of $181.31 and a 52-week high of $269.43. The stock has a market cap of $27.89 billion, a PE ratio of 23.92, a PEG ratio of 1.87 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the firm posted $4.02 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, sell-side analysts forecast that Biogen Inc. will post 16.13 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.