Biogen Inc. (NASDAQ:BIIB) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 9.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,539 shares of the biotechnology company’s stock after selling 1,387 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Biogen were worth $2,625,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Plato Investment Management Ltd boosted its holdings 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 purchasing an additional 53 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Biogen in the second quarter worth $33,000. EntryPoint Capital LLC acquired a new position in Biogen in the first quarter worth $36,000. Versant Capital Management Inc boosted its holdings in Biogen by 123.2% in the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 85 shares during the period. Finally, Blue Trust Inc. lifted its stake in Biogen by 249.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 127 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on BIIB. Mizuho cut their target price on Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Oppenheimer cut their target price on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 target price on shares of Biogen in a research note on Wednesday, October 30th. HC Wainwright restated a “buy” rating and set a $300.00 price objective on shares of Biogen in a research note on Thursday, October 31st. Finally, UBS Group cut their price objective on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Ten investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $261.58.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the firm’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 owns 5,316 shares in the company, valued at $1,085,633.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

Biogen Stock Down 0.6 %

NASDAQ:BIIB opened at $172.03 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The stock has a 50-day simple moving average of $189.71 and a 200 day simple moving average of $208.87. The company has a market cap of $25.07 billion, a PE ratio of 15.54, a PEG ratio of 1.64 and a beta of -0.06. Biogen Inc. has a 52-week low of $170.71 and a 52-week high of $268.30.

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 analysts’ consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the company earned $4.36 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. On average, sell-side analysts expect that Biogen Inc. will post 16.4 EPS for the current fiscal year.

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.