Signaturefd LLC Has $392,000 Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Signaturefd LLC trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 38.7% during the third quarter, HoldingsChannel reports. The fund owned 2,021 shares of the biotechnology company’s stock after selling 1,277 shares during the quarter. Signaturefd LLC’s holdings in Biogen were worth $392,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd raised its holdings in 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 last quarter. Itau Unibanco Holding S.A. bought a new position in Biogen during the second quarter valued at about $33,000. EntryPoint Capital LLC bought a new position in Biogen during the first quarter valued at about $36,000. Versant Capital Management Inc grew its position in Biogen by 123.2% during the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 85 shares during the period. Finally, Blue Trust Inc. boosted its position in Biogen by 249.0% during the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 127 shares during the period. 87.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Priya Singhal sold 431 shares of the firm’s 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 sale, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on BIIB. UBS Group reduced their price objective on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. BMO Capital Markets lowered their price objective 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. William Blair reiterated an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Raymond James reiterated a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. Finally, Barclays reduced their price objective on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Biogen has an average rating of “Moderate Buy” and a consensus target price of $271.39.

Biogen Stock Down 1.2 %

Shares of BIIB opened at $181.69 on Friday. The company has a market cap of $26.46 billion, a PE ratio of 22.88, a P/E/G ratio of 1.87 and a beta of -0.06. The business has a fifty day moving average of $195.69 and a 200 day moving average of $210.29. Biogen Inc. has a 52-week low of $181.24 and a 52-week high of $268.30. 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 issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. Biogen’s revenue was up .4% on a year-over-year basis. During the same period last year, the company earned $4.02 earnings per share. On average, sell-side analysts expect that Biogen Inc. will post 16.14 EPS for the current year.

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.