Quantinno Capital Management LP Sells 5,172 Shares of Biogen Inc. (NASDAQ:BIIB)

Quantinno Capital Management LP lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 62.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,069 shares of the biotechnology company’s stock after selling 5,172 shares during the period. Quantinno Capital Management LP’s holdings in Biogen were worth $595,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Biogen by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after acquiring an additional 12,319 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Biogen by 3.2% during the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock worth $32,687,000 after buying an additional 5,270 shares in the last quarter. Arlington Partners LLC raised its position in 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 last quarter. Edgestream Partners L.P. lifted its stake in Biogen by 1,107.5% in the 3rd quarter. Edgestream Partners L.P. now owns 11,218 shares of the biotechnology company’s stock valued at $2,174,000 after acquiring an additional 10,289 shares in the last quarter. Finally, National Pension Service boosted its position in Biogen by 10.1% during the 3rd quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock worth $69,699,000 after acquiring an additional 32,914 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

BIIB has been the topic of a number of research reports. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $292.00 price objective on shares of Biogen in a research note on Monday, September 9th. Royal Bank of Canada lowered their target price on Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Wolfe Research assumed coverage on Biogen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Barclays lowered their price target on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Fourteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Biogen has a consensus rating of “Moderate Buy” and an average price target of $248.25.

Biogen Price Performance

NASDAQ:BIIB opened at $150.03 on Friday. Biogen Inc. has a 52 week low of $149.93 and a 52 week high of $268.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The firm’s 50-day simple moving average is $171.21 and its 200 day simple moving average is $198.27. The firm has a market cap of $21.86 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 1.83 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.36 earnings per share. As a group, sell-side analysts predict that Biogen Inc. will post 16.43 earnings per share for the current year.

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.