Biogen Inc. (NASDAQ:BIIB) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ cut its position in shares of Biogen Inc. (NASDAQ:BIIB) by 3.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,025 shares of the biotechnology company’s stock after selling 2,570 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Biogen were worth $19,272,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Jump Financial LLC purchased a new stake in shares of Biogen in the fourth quarter worth about $346,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Biogen in the fourth quarter worth about $213,000. Gladstone Institutional Advisory LLC purchased a new stake in shares of Biogen in the fourth quarter worth about $249,000. Corient Private Wealth LLC boosted its position in shares of Biogen by 37.1% in the fourth quarter. Corient Private Wealth LLC now owns 31,212 shares of the biotechnology company’s stock worth $8,077,000 after buying an additional 8,453 shares during the period. Finally, Assetmark Inc. boosted its position in shares of Biogen by 3.3% in the fourth quarter. Assetmark Inc. now owns 5,035 shares of the biotechnology company’s stock worth $1,303,000 after buying an additional 161 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Down 1.0 %

Shares of Biogen stock opened at $199.36 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. The business’s 50 day simple moving average is $207.31 and its 200-day simple moving average is $215.02. The stock has a market capitalization of $29.03 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 2.01 and a beta of -0.06. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $269.43.

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, topping analysts’ consensus estimates of $4.00 by $1.28. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned $4.02 EPS. Equities research analysts forecast that Biogen Inc. will post 16.12 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Scotiabank decreased their target price on Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $292.00 target price on shares of Biogen in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $285.00 price target on shares of Biogen in a report on Wednesday, September 4th. Mizuho reduced their price target on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.52.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

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.