Biogen Inc. (NASDAQ:BIIB) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC cut its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 18.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 11,024 shares of the biotechnology company’s stock after selling 2,426 shares during the period. Pathstone Holdings LLC’s holdings in Biogen were worth $2,137,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Plato Investment Management Ltd raised its position in shares of Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 53 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Biogen in the second quarter valued at about $33,000. Versant Capital Management Inc raised its position in shares of Biogen by 123.2% in the second 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 during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Biogen in the first quarter valued at about $36,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Biogen in the third quarter valued at about $33,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 completion of the transaction, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. The trade was a 7.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by insiders.

Biogen Trading Down 0.6 %

NASDAQ BIIB opened at $157.69 on Wednesday. The firm has a 50 day simple moving average of $180.22 and a 200-day simple moving average of $204.22. 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 one year low of $153.62 and a one year high of $268.30. The firm has a market cap 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 issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the firm earned $4.36 earnings per share. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. Equities research analysts anticipate that Biogen Inc. will post 16.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BIIB shares. Royal Bank of Canada reduced their target price on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Mizuho cut their price objective on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. JPMorgan Chase & Co. cut their price objective on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Oppenheimer cut their price objective on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Wolfe Research began coverage on shares of Biogen in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Biogen presently has an average rating of “Moderate Buy” and a consensus price target of $257.20.

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.