Biogen Inc. (NASDAQ:BIIB) Holdings Decreased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its position in Biogen Inc. (NASDAQ:BIIB) by 20.1% in the third quarter, Holdings Channel.com reports. The fund owned 6,050 shares of the biotechnology company’s stock after selling 1,526 shares during the period. Oppenheimer & Co. Inc.’s holdings in Biogen were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. MQS Management LLC bought a new position in Biogen during the 3rd quarter worth $631,000. Missouri Trust & Investment Co grew its stake in Biogen by 19.6% during the 3rd quarter. Missouri Trust & Investment Co now owns 4,642 shares of the biotechnology company’s stock worth $900,000 after buying an additional 760 shares during the last quarter. American Assets Inc. bought a new position in Biogen during the 3rd quarter worth $388,000. Aigen Investment Management LP bought a new position in Biogen during the 3rd quarter worth $682,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Biogen by 2.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 370,128 shares of the biotechnology company’s stock worth $71,746,000 after buying an additional 9,254 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Down 1.3 %

NASDAQ:BIIB opened at $157.94 on Tuesday. The firm has a market capitalization of $23.01 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.51 and a beta of -0.06. Biogen Inc. has a 1-year low of $157.40 and a 1-year high of $268.30. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The business’s fifty day moving average price is $185.16 and its 200 day moving average price is $206.88.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.36 earnings per share. On average, sell-side analysts forecast that Biogen Inc. will post 16.42 earnings per share for the current fiscal year.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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 approximately $1,085,633.52. The trade was a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on BIIB shares. Cantor Fitzgerald restated an “overweight” rating and set a $292.00 price objective on shares of Biogen in a research note on Monday, September 9th. HC Wainwright reiterated a “buy” rating and set a $300.00 price target on shares of Biogen in a research report on Thursday, October 31st. Royal Bank of Canada reduced their price target on Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Raymond James reiterated a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. Finally, Wedbush reduced their price target on Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. Thirteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $258.96.

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.