STF Management LP Decreases Holdings in Biogen Inc. (NASDAQ:BIIB)

STF Management LP lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 4.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,307 shares of the biotechnology company’s stock after selling 95 shares during the period. STF Management LP’s holdings in Biogen were worth $535,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased 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 buying an additional 2,163,068 shares during the last quarter. Primecap Management Co. CA increased its holdings in Biogen by 1.6% during the fourth quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock worth $4,208,760,000 after buying an additional 251,915 shares during the last quarter. Van ECK Associates Corp increased its holdings in Biogen by 22.2% during the first quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock worth $374,623,000 after buying an additional 316,144 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Biogen by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock worth $342,772,000 after purchasing an additional 81,283 shares during the period. Finally, Norges Bank bought a new position in Biogen during the fourth quarter worth about $378,728,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Royal Bank of Canada increased their target price on shares of Biogen from $282.00 to $292.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Barclays cut their target price on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Wedbush cut their target price on shares of Biogen from $215.00 to $210.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Scotiabank cut their target price on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research report on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $285.00 target price on shares of Biogen in a research report on Wednesday, September 4th. Eight analysts have rated the stock with a hold rating, seventeen have given 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 target price of $275.52.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

Biogen Trading Up 2.0 %

Shares of Biogen stock opened at $199.58 on Tuesday. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $269.43. The firm has a market cap of $29.06 billion, a PE ratio of 24.92, a PEG ratio of 2.01 and a beta of -0.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. The company has a 50 day simple moving average of $209.95 and a two-hundred day simple moving average of $215.55.

Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period in the previous year, the business posted $4.02 earnings per share. Biogen’s revenue for the quarter was up .4% on a year-over-year basis. Analysts expect that Biogen Inc. will post 16.12 earnings per share for the current fiscal year.

Biogen 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.