Biogen Inc. (NASDAQ:BIIB) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,928 shares of the biotechnology company’s stock after selling 839 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Biogen were worth $6,964,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Biogen by 15.0% during the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after purchasing an additional 2,163,068 shares in the last quarter. International Assets Investment Management LLC lifted its position in Biogen by 19,722.9% in the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after acquiring an additional 357,181 shares during the last quarter. RA Capital Management L.P. lifted its position in Biogen by 39.0% in the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after acquiring an additional 207,835 shares during the last quarter. Primecap Management Co. CA boosted its stake in Biogen by 0.7% in the second quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock valued at $3,787,543,000 after acquiring an additional 117,578 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of Biogen during the first quarter worth about $22,939,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

NASDAQ:BIIB opened at $164.89 on Friday. The firm has a market capitalization of $24.03 billion, a PE ratio of 14.90, a PEG ratio of 1.60 and a beta of -0.06. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 1 year low of $163.35 and a 1 year high of $268.30. The firm’s fifty day simple moving average is $187.54 and its 200 day simple moving average is $208.07.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the business earned $4.36 earnings per share. Biogen’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Biogen Inc. will post 16.4 EPS for the current year.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. This represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BIIB shares. TD Cowen decreased their target price on Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company lowered their target price on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. StockNews.com upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. UBS Group lowered their price objective on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $300.00 target price on shares of Biogen in a report on Thursday, October 31st. Eleven 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 stock. Based on data from MarketBeat, Biogen has a consensus rating of “Moderate Buy” and a consensus target price of $258.72.

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.