Biogen Inc. (NASDAQ:BIIB) Shares Sold by STF Management LP

STF Management LP reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 9.3% in the third quarter, HoldingsChannel reports. The fund owned 2,092 shares of the biotechnology company’s stock after selling 215 shares during the quarter. STF Management LP’s holdings in Biogen were worth $406,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in BIIB. Plato Investment Management Ltd lifted its stake in shares of Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 53 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Biogen in the 2nd quarter worth approximately $33,000. Ashton Thomas Securities LLC acquired a new stake in shares of Biogen in the 3rd quarter worth approximately $33,000. EntryPoint Capital LLC acquired a new stake in shares of Biogen in the 1st quarter worth approximately $36,000. Finally, Versant Capital Management Inc lifted its stake in shares of Biogen by 123.2% in the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 85 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on BIIB. UBS Group cut their target price on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Raymond James reissued a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Wedbush cut their target price on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Finally, TD Cowen cut their target price on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Thirteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $257.20.

Biogen Stock Up 1.6 %

NASDAQ BIIB opened at $158.43 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average is $182.60 and its two-hundred day moving average is $205.76. The company has a market capitalization of $23.09 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.47 and a beta of -0.06. Biogen Inc. has a 1-year low of $153.62 and a 1-year high of $268.30.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.36 EPS. Equities analysts forecast that Biogen Inc. will post 16.45 earnings per share for the current fiscal year.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 431 shares of the business’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 transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at $1,085,633.52. The trade was a 7.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by company insiders.

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.