Evoke Wealth LLC Has $821,000 Stock Position in Biogen Inc. (NASDAQ:BIIB)

Evoke Wealth LLC lessened its position in shares of Biogen Inc. (NASDAQ:BIIB) by 67.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,540 shares of the biotechnology company’s stock after selling 7,288 shares during the quarter. Biogen makes up about 1.0% of Evoke Wealth LLC’s investment portfolio, making the stock its 20th largest position. Evoke Wealth LLC’s holdings in Biogen were worth $821,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Livelsberger Financial Advisory bought a new position in Biogen in the fourth quarter worth $26,000. Plato Investment Management Ltd lifted its holdings in shares of Biogen by 82.8% during the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 53 shares during the period. Rise Advisors LLC bought a new position in shares of Biogen during the 1st quarter worth about $27,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Biogen during the 2nd quarter valued at about $33,000. Finally, Versant Capital Management Inc increased its stake in Biogen by 123.2% in the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 85 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Biogen Stock Performance

Biogen stock opened at $199.36 on Friday. The company has a market cap of $29.03 billion, a PE ratio of 24.89, a PEG ratio of 2.01 and a beta of -0.06. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $269.43. The company’s 50-day moving average is $207.31 and its two-hundred day moving average is $215.00.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.00 by $1.28. The business 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 was up .4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.02 earnings per share. Equities analysts anticipate that Biogen Inc. will post 16.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on BIIB shares. Barclays cut their price target on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Scotiabank decreased their price target on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $292.00 price target on shares of Biogen in a research report on Thursday. William Blair reissued an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Finally, Wedbush reduced their target price on shares of Biogen from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $275.52.

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.