Bleakley Financial Group LLC Sells 759 Shares of Biogen Inc. (NASDAQ:BIIB)

Bleakley Financial Group LLC lowered its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 41.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,073 shares of the biotechnology company’s stock after selling 759 shares during the quarter. Bleakley Financial Group LLC’s holdings in Biogen were worth $208,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of BIIB. Vanguard Group Inc. increased its stake in Biogen by 15.0% in the 1st 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 period. Van ECK Associates Corp increased its position in Biogen by 22.2% during the 1st quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock valued at $374,623,000 after purchasing an additional 316,144 shares during the period. RA Capital Management L.P. increased its position in Biogen by 39.0% during the 1st quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after purchasing an additional 207,835 shares during the period. SG Americas Securities LLC increased its position in Biogen by 1,227.4% during the 1st quarter. SG Americas Securities LLC now owns 176,262 shares of the biotechnology company’s stock valued at $38,007,000 after purchasing an additional 162,983 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Biogen by 27.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 570,533 shares of the biotechnology company’s stock valued at $123,024,000 after purchasing an additional 122,101 shares during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

BIIB opened at $183.86 on Friday. Biogen Inc. has a 12-month low of $181.31 and a 12-month high of $268.30. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $26.77 billion, a PE ratio of 22.95, a P/E/G ratio of 1.87 and a beta of -0.06. The firm has a 50 day moving average of $196.04 and a two-hundred day moving average of $210.47.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the firm posted $4.02 EPS. Biogen’s revenue for the quarter was up .4% compared to the same quarter last year. On average, analysts anticipate that Biogen Inc. will post 16.13 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on BIIB shares. BMO Capital Markets cut their target price on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Truist Financial reissued a “buy” rating and set a $302.00 target price (down previously from $340.00) on shares of Biogen in a research report on Monday, August 5th. Wells Fargo & Company cut their target price on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Barclays lowered their price target on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Finally, Robert W. Baird lowered their price target on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $271.39.

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 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 directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

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.