Biogen Inc. (NASDAQ:BIIB) Shares Sold by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 76.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 638 shares of the biotechnology company’s stock after selling 2,110 shares during the period. GHP Investment Advisors Inc.’s holdings in Biogen were worth $124,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Arlington Partners LLC lifted its position in 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 acquiring an additional 4,902 shares during the period. Duality Advisers LP acquired a new stake in shares of Biogen during the first quarter worth $1,290,000. Tocqueville Asset Management L.P. grew its position in Biogen by 924.4% in 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 buying an additional 41,690 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Biogen by 0.9% in 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 buying an additional 3,380 shares during the period. Finally, Cetera Investment Advisers raised its position in 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. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BIIB shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $285.00 target price on shares of Biogen in a report on Tuesday, September 24th. Robert W. Baird lowered their price objective on Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. StockNews.com raised Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. William Blair restated an “outperform” rating on shares of Biogen in a research note on Wednesday, July 3rd. Finally, Mizuho cut their price objective on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a research report on Tuesday, August 6th. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Biogen has an average rating of “Moderate Buy” and a consensus price target of $271.39.

Biogen Price Performance

BIIB stock opened at $185.01 on Tuesday. The stock’s 50 day moving average price is $194.86 and its 200 day moving average price is $210.08. The firm has a market cap of $26.94 billion, a P/E ratio of 23.10, a PEG ratio of 1.87 and a beta of -0.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. Biogen Inc. has a 1 year low of $181.24 and a 1 year high of $268.30.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) 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 the consensus estimate of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The business’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business earned $4.02 earnings per share. On average, sell-side analysts expect that Biogen Inc. will post 16.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 value of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

About Biogen

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.