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

Fisher Asset Management LLC cut its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 2.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 66,768 shares of the biotechnology company’s stock after selling 1,719 shares during the period. Fisher Asset Management LLC’s holdings in Biogen were worth $12,942,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Plato Investment Management Ltd raised its position in shares of Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 53 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Biogen in the second quarter valued at about $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Biogen in the third quarter valued at about $33,000. Versant Capital Management Inc raised its position in shares of Biogen by 123.2% in 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 last quarter. Finally, Blue Trust Inc. raised its position in shares of Biogen by 249.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 127 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $300.00 target price on shares of Biogen in a research report on Thursday, October 31st. Needham & Company LLC cut shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 target price for the company. in a research report on Monday, November 18th. Mizuho reduced their target price on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Barclays dropped their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, Oppenheimer dropped their price objective on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.20.

Insider Activity

In related news, insider Priya Singhal sold 431 shares of the firm’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 sale, the insider now owns 5,316 shares of the company’s stock, valued at $1,085,633.52. This trade represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Biogen Trading Up 1.4 %

NASDAQ BIIB opened at $159.83 on Thursday. The firm has a 50 day simple moving average of $179.47 and a 200-day simple moving average of $203.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen Inc. has a one year low of $153.62 and a one year high of $268.30. The firm has a market cap of $23.29 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.50 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the firm posted $4.36 earnings per share. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that Biogen Inc. will post 16.44 EPS 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.