Biogen Inc. (NASDAQ:BIIB) Stock Holdings Decreased by Ballentine Partners LLC

Ballentine Partners LLC lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 54.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,529 shares of the biotechnology company’s stock after selling 1,805 shares during the period. Ballentine Partners LLC’s holdings in Biogen were worth $296,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arlington Partners LLC boosted its holdings in shares of Biogen by 34.3% in the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock valued at $3,724,000 after buying an additional 4,902 shares during the period. Duality Advisers LP acquired a new position in Biogen during the 1st quarter valued at about $1,290,000. Tocqueville Asset Management L.P. boosted its stake in Biogen by 924.4% during the 1st quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock valued at $9,962,000 after purchasing an additional 41,690 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Biogen by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock valued at $83,337,000 after purchasing an additional 3,380 shares during the period. Finally, Cetera Investment Advisers boosted its stake in Biogen by 235.1% during the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock valued at $3,204,000 after purchasing an additional 10,425 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BIIB shares. Royal Bank of Canada reduced their target price on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Wedbush reduced their target price on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Raymond James reissued a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Scotiabank reduced their target price on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $292.00 target price on shares of Biogen in a research note on Monday, September 9th. Nine research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $271.39.

Biogen Stock Up 1.8 %

NASDAQ BIIB opened at $185.01 on Tuesday. Biogen Inc. has a 12 month low of $181.24 and a 12 month high of $268.30. The company’s 50 day simple moving average is $194.86 and its 200 day simple moving average is $210.08. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. The company has a market capitalization of $26.94 billion, a P/E ratio of 23.10, a PEG ratio of 1.87 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results 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 business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the business earned $4.02 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. Equities research analysts expect that Biogen Inc. will post 16.14 earnings per share for the current fiscal 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.