Great Valley Advisor Group Inc. Sells 260 Shares of Biogen Inc. (NASDAQ:BIIB)

Great Valley Advisor Group Inc. trimmed its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 7.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 3,229 shares of the biotechnology company’s stock after selling 260 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Biogen were worth $626,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in Biogen by 3.2% in the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after acquiring an additional 5,270 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Biogen by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares during the last quarter. Arlington Partners LLC raised its holdings in shares of Biogen by 34.3% during the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock worth $3,724,000 after buying an additional 4,902 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Biogen by 235.1% during the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after buying an additional 10,425 shares during the last quarter. Finally, National Pension Service lifted its position in shares of Biogen by 10.1% during the 3rd quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock worth $69,699,000 after buying an additional 32,914 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 431 shares of the 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on BIIB shares. Scotiabank lowered their target price on Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. Needham & Company LLC cut shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 price objective for the company. in a research report on Monday, November 18th. Truist Financial restated a “buy” rating and issued a $302.00 target price (down previously from $340.00) on shares of Biogen in a research report on Monday, August 5th. BMO Capital Markets lowered their price target on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, StockNews.com upgraded Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Thirteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $257.20.

Biogen Price Performance

Biogen stock opened at $157.69 on Wednesday. The stock has a market capitalization of $22.98 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 1.49 and a beta of -0.06. Biogen Inc. has a 52-week low of $153.62 and a 52-week high of $268.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The stock’s 50 day moving average price is $180.22 and its two-hundred day moving average price is $204.22.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the firm earned $4.36 earnings per share. Biogen’s revenue was down 2.5% on a year-over-year basis. On average, equities analysts predict that Biogen Inc. will post 16.44 earnings per share 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.