Biogen Inc. (NASDAQ:BIIB) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its holdings in Biogen Inc. (NASDAQ:BIIB) by 16.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,110,112 shares of the biotechnology company’s stock after selling 210,874 shares during the period. Dimensional Fund Advisors LP owned 0.76% of Biogen worth $257,308,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Biogen by 18.2% in the fourth quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock valued at $3,728,185,000 after purchasing an additional 2,218,744 shares during the period. FIL Ltd raised its position in Biogen by 936.4% in the fourth quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock valued at $169,883,000 after purchasing an additional 593,158 shares during the period. First Trust Advisors LP raised its position in Biogen by 141.0% in the fourth quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock valued at $252,898,000 after purchasing an additional 571,795 shares during the period. Van ECK Associates Corp raised its position in Biogen by 22.2% in the first quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock valued at $374,623,000 after purchasing an additional 316,144 shares during the period. Finally, Primecap Management Co. CA raised its position in Biogen by 1.6% in the fourth quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock valued at $4,208,760,000 after purchasing an additional 251,915 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BIIB shares. Needham & Company LLC reissued a “buy” rating and issued a $285.00 target price on shares of Biogen in a research report on Wednesday, September 4th. Scotiabank cut their target price on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. Truist Financial reaffirmed a “buy” rating and set a $302.00 price objective (down previously from $340.00) on shares of Biogen in a research report on Monday, August 5th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Wednesday, July 3rd. Finally, Wedbush cut their price objective on Biogen from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, seventeen have given 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 an average price target of $275.52.

Biogen Stock Performance

NASDAQ BIIB opened at $197.59 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $269.43. The company has a market capitalization of $28.77 billion, a PE ratio of 24.67, a P/E/G ratio of 2.01 and a beta of -0.06. The company has a fifty day moving average of $208.63 and a two-hundred day moving average of $215.26.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the firm posted $4.02 earnings per share. Biogen’s revenue for the quarter was up .4% on a year-over-year basis. As a group, analysts expect that Biogen Inc. will post 16.12 earnings per share for the current 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.