Biogen Inc. (NASDAQ:BIIB) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance lessened its holdings in Biogen Inc. (NASDAQ:BIIB) by 18.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,289 shares of the biotechnology company’s stock after selling 1,843 shares during the quarter. Independent Advisor Alliance’s holdings in Biogen were worth $1,607,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BIIB. First Horizon Advisors Inc. grew its stake in Biogen by 39.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 49 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in shares of Biogen by 82.8% during the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 53 shares during the last quarter. CWM LLC grew its position in shares of Biogen by 1.7% in the second quarter. CWM LLC now owns 3,765 shares of the biotechnology company’s stock valued at $873,000 after purchasing an additional 62 shares in the last quarter. Grandfield & Dodd LLC grew its position in shares of Biogen by 5.2% in the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 62 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. increased its holdings in shares of Biogen by 9.7% in the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BIIB shares. Mizuho dropped their target price on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a 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. StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Scotiabank dropped their price target on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $292.00 price target on shares of Biogen in a research report on Monday, September 9th. Thirteen research 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 stock. Based on data from MarketBeat.com, Biogen has an average rating of “Moderate Buy” and an average target price of $257.20.

Biogen Trading Down 0.6 %

BIIB opened at $157.69 on Wednesday. The business has a fifty day moving average price of $180.22 and a 200 day moving average price of $204.22. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen Inc. has a 12 month low of $153.62 and a 12 month high of $268.30. The stock has a market capitalization of $22.98 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 1.49 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion during 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%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.36 earnings per share. Sell-side analysts expect that Biogen Inc. will post 16.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Biogen

In related news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. The trade was a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

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.