Biogen Inc. (NASDAQ:BIIB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,709 shares of the biotechnology company’s stock after selling 2,504 shares during the period. Victory Capital Management Inc. owned about 0.09% of Biogen worth $25,337,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Plato Investment Management Ltd raised its position in Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 53 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Biogen during the 2nd quarter worth $33,000. Ashton Thomas Securities LLC purchased a new position in shares of Biogen in the 3rd quarter valued at about $33,000. EntryPoint Capital LLC acquired a new stake in shares of Biogen in the first quarter valued at about $36,000. Finally, Versant Capital Management Inc boosted its holdings in Biogen by 123.2% during the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after buying an additional 85 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Biogen

In other Biogen 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 transaction of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares of the company’s stock, 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 filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Biogen Stock Performance

Shares of BIIB stock opened at $159.99 on Monday. The firm has a market capitalization of $23.31 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 1.51 and a beta of -0.06. The company has a 50 day moving average price of $185.99 and a 200 day moving average price of $207.27. Biogen Inc. has a one year low of $159.60 and a one year high of $268.30. 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 (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the company posted $4.36 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. Sell-side analysts anticipate that Biogen Inc. will post 16.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BIIB shares. Wedbush dropped their target price on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. BMO Capital Markets reduced their price objective on Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company decreased their target price on Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. HC Wainwright restated a “buy” rating and issued a $300.00 price target on shares of Biogen in a research report on Thursday, October 31st. Finally, TD Cowen decreased their price objective on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $258.96.

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.