Prospera Financial Services Inc Has $203,000 Stock Position in Biogen Inc. (NASDAQ:BIIB)

Prospera Financial Services Inc lowered its position in shares of Biogen Inc. (NASDAQ:BIIB) by 28.8% in the third quarter, HoldingsChannel reports. The firm owned 1,048 shares of the biotechnology company’s stock after selling 424 shares during the period. Prospera Financial Services Inc’s holdings in Biogen were worth $203,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of Biogen by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock worth $32,687,000 after purchasing an additional 5,270 shares in the last quarter. Arlington Partners LLC increased its position in shares of Biogen by 34.3% during the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock worth $3,724,000 after purchasing an additional 4,902 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Biogen by 235.1% during the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after purchasing an additional 10,425 shares in the last quarter. National Pension Service increased its position in shares of Biogen by 10.1% during the 3rd quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock worth $69,699,000 after purchasing an additional 32,914 shares in the last quarter. Finally, Impax Asset Management Group plc increased its position in shares of Biogen by 40.5% during the 3rd quarter. Impax Asset Management Group plc now owns 38,810 shares of the biotechnology company’s stock worth $7,523,000 after purchasing an additional 11,185 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of BIIB opened at $158.71 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen Inc. has a twelve month low of $153.62 and a twelve month high of $268.30. The firm’s 50 day moving average price is $181.03 and its two-hundred day moving average price is $204.67. The firm has a market cap of $23.13 billion, a P/E ratio of 14.34, a PEG ratio of 1.49 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm posted $4.36 earnings per share. The business’s revenue was down 2.5% on a year-over-year basis. On average, analysts forecast that Biogen Inc. will post 16.44 EPS for the current fiscal year.

Insider Activity

In other 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 value of $88,018.82. Following the sale, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. This trade represents a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Raymond James restated a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. HC Wainwright restated a “buy” rating and issued a $300.00 price objective on shares of Biogen in a research report on Thursday, October 31st. Robert W. Baird raised their price objective on shares of Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Wells Fargo & Company lowered their price objective on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Barclays lowered their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.20.

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.