IFM Investors Pty Ltd Sells 247 Shares of Biogen Inc. (NASDAQ:BIIB)

IFM Investors Pty Ltd lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 0.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 34,013 shares of the biotechnology company’s stock after selling 247 shares during the quarter. IFM Investors Pty Ltd’s holdings in Biogen were worth $6,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Plato Investment Management Ltd boosted its stake 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 acquiring an additional 53 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Biogen during the 2nd quarter valued at $33,000. EntryPoint Capital LLC purchased a new position in shares of Biogen during the 1st quarter valued at $36,000. Versant Capital Management Inc lifted its stake in shares of Biogen by 123.2% during the 2nd 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 in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Biogen by 249.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $181.69 on Friday. The company has a market capitalization of $26.46 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.87 and a beta of -0.06. Biogen Inc. has a 12 month low of $181.24 and a 12 month high of $268.30. The firm’s 50-day moving average is $195.69 and its 200 day moving average is $210.29. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.00 by $1.28. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.02 EPS. Research analysts predict that Biogen Inc. will post 16.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BIIB shares. Needham & Company LLC restated a “buy” rating and set a $285.00 target price on shares of Biogen in a research note on Tuesday, September 24th. UBS Group lowered their target price on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Mizuho decreased their price target on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. StockNews.com upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Finally, Wells Fargo & Company decreased their price target on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Biogen has an average rating of “Moderate Buy” and a consensus price target of $271.39.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 in the company, valued at $1,085,633.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

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.