Biogen Inc. (NASDAQ:BIIB) Shares Sold by NBC Securities Inc.

NBC Securities Inc. reduced its position in Biogen Inc. (NASDAQ:BIIB) by 38.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 460 shares of the biotechnology company’s stock after selling 290 shares during the quarter. NBC Securities Inc.’s holdings in Biogen were worth $89,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BIIB. Vanguard Group Inc. raised its stake in shares of Biogen by 15.0% during the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after purchasing an additional 2,163,068 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Biogen by 0.7% during the second quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock worth $3,787,543,000 after purchasing an additional 117,578 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Biogen by 22.2% during the first quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock worth $374,623,000 after purchasing an additional 316,144 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Biogen by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock worth $342,772,000 after purchasing an additional 81,283 shares during the last quarter. Finally, RA Capital Management L.P. raised its stake in shares of Biogen by 39.0% during the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock worth $159,723,000 after purchasing an additional 207,835 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several analyst reports. Wells Fargo & Company cut their price target on Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Scotiabank cut their price target on Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. Robert W. Baird cut their price target on Biogen from $316.00 to $294.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Piper Sandler cut their price target on Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, BMO Capital Markets cut their price objective on Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $271.39.

Biogen Stock Up 0.3 %

BIIB opened at $190.16 on Monday. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The firm has a market cap of $27.69 billion, a P/E ratio of 23.74, a PEG ratio of 1.87 and a beta of -0.06. Biogen Inc. has a 52 week low of $181.31 and a 52 week high of $268.30. The business’s fifty day simple moving average is $197.09 and its 200 day simple moving average is $210.94.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the company earned $4.02 earnings per share. As a group, equities research analysts anticipate that Biogen Inc. will post 16.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at approximately $1,085,633.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

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.