Apollon Wealth Management LLC Has $318,000 Holdings in Biogen Inc. (NASDAQ:BIIB)

Apollon Wealth Management LLC cut its position in Biogen Inc. (NASDAQ:BIIB) by 27.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,642 shares of the biotechnology company’s stock after selling 636 shares during the quarter. Apollon Wealth Management LLC’s holdings in Biogen were worth $318,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Plato Investment Management Ltd boosted its holdings in Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 53 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Biogen in the 2nd quarter valued at $33,000. Ashton Thomas Securities LLC bought a new stake in Biogen in the 3rd quarter valued at $33,000. EntryPoint Capital LLC bought a new stake in Biogen in the 1st quarter valued at $36,000. Finally, Versant Capital Management Inc boosted its holdings in Biogen by 123.2% in the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 85 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $292.00 price objective on shares of Biogen in a report on Monday, September 9th. UBS Group reduced their price objective on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price objective on shares of Biogen in a report on Wednesday, October 30th. Royal Bank of Canada reduced their price objective on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, Robert W. Baird raised their price objective on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday. Twelve investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $258.96.

Biogen Stock Down 3.0 %

Shares of NASDAQ:BIIB opened at $159.99 on Monday. Biogen Inc. has a one year low of $159.60 and a one year high of $268.30. The company has a 50 day moving average of $185.99 and a 200-day moving average of $207.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The stock has a market cap of $23.31 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 1.51 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 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. Biogen’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.36 EPS. On average, sell-side analysts forecast that Biogen Inc. will post 16.42 earnings per share for the current year.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 431 shares of the business’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 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 Securities & Exchange Commission, which can be accessed through this link. Corporate 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.