Meeder Asset Management Inc. Sells 319 Shares of Biogen Inc. (NASDAQ:BIIB)

Meeder Asset Management Inc. decreased its holdings in Biogen Inc. (NASDAQ:BIIB) by 25.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 954 shares of the biotechnology company’s stock after selling 319 shares during the period. Meeder Asset Management Inc.’s holdings in Biogen were worth $185,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Caprock Group LLC grew its holdings in shares of Biogen by 16.3% in the third quarter. Caprock Group LLC now owns 3,118 shares of the biotechnology company’s stock worth $604,000 after purchasing an additional 437 shares during the last quarter. Tidemark LLC purchased a new stake in Biogen in the 3rd quarter valued at about $115,000. LMR Partners LLP grew its stake in Biogen by 25.7% in the 3rd quarter. LMR Partners LLP now owns 8,121 shares of the biotechnology company’s stock worth $1,574,000 after acquiring an additional 1,661 shares in the last quarter. Aljian Capital Management LLC purchased a new position in shares of Biogen during the third quarter worth approximately $522,000. Finally, Swiss National Bank raised its stake in shares of Biogen by 0.4% during the third quarter. Swiss National Bank now owns 432,100 shares of the biotechnology company’s stock valued at $83,758,000 after acquiring an additional 1,700 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the sale, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This trade represents a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BIIB. Citigroup began coverage on Biogen in a research note on Thursday, November 14th. They issued a “neutral” rating and a $190.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $292.00 price target on shares of Biogen in a research report on Monday, September 9th. Robert W. Baird lifted their price objective on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Truist Financial reaffirmed a “buy” rating and issued a $302.00 price objective (down from $340.00) on shares of Biogen in a research note on Monday, August 5th. Finally, Oppenheimer cut their target price on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.96.

Biogen Stock Down 1.6 %

Shares of BIIB stock opened at $155.43 on Wednesday. Biogen Inc. has a twelve month low of $155.28 and a twelve month high of $268.30. The stock has a market cap of $22.65 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.52 and a beta of -0.06. The stock has a 50 day moving average of $184.26 and a 200 day moving average of $206.44. 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 (NASDAQ:BIIB) last posted its earnings results 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 net margin of 16.81% and a return on equity of 14.98%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the firm earned $4.36 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, sell-side analysts expect that Biogen Inc. will post 16.42 EPS 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.